China's aluminum prices drop further amid lukewarm demand

Chinese prices of primary aluminum continued to track downward during December 16-20, as market sentiment cooled on the Fed's signals of fewer rate cuts next year, while demand for aluminum ingots from downstream producers was also subdued, Mysteel Global noted.

Last Wednesday, the United State Federal Reserve reduced the interest rates by a quarter of a percentage point as expected, but its indication of fewer rate cuts in the coming year caused market sentiment to cool and Chinese nonferrous prices were mostly depressed. On December 20, the most-traded aluminum contract on the