Get aggressive with the buffing compound IMO before you go to sanding. Some buffing compounds are really fine, more like a finishing polish. Try 3M Heavy Duty Buffing Compound it has grit. It is handy to have around, good on rust stains, oxidation, scuffs and the like. You can probably buff it out by hand. If you sand on it you will need the HD compound anyway to bring back the luster.