SHANGHAI, Jun. 4 (SMM) – The SHFE front-month aluminum contract hovered at low levels after falling to around the 10-day moving average on Wednesday. In response, physical aluminum prices in south China also dropped sharply, luring some downstream producers to hunt for bargains. Cargo holders, however, expressed little willingness to trade at low prices, with trading activity failing to improve significantly. Physical aluminum traded largely between RMB 13,210-13,220/mt in south China on Wednesday.