China's aluminum prices face weaker cost support

Chinese prices of primary aluminum continued to trend lower during December 23-27 in the midst of weakening cost support, while demand from light metal users remained sluggish, Mysteel Global noted.

As the US dollar hovered near a two-year high last week, nonferrous prices globally were all under pressure including those in China. For example, the most-traded aluminum contract on the Shanghai Futures Exchange for February delivery closed the daytime trading session at Yuan 19,795/tonne ($2,712.3/t) on December 27, Yuan