SHANGHAI, Dec. 13 (SMM) -- China's central bank said on its website on December 10th that it would lift the bank reserve requirement ratio by 50 basis points from December 20th in order to curb accelerating inflation. China's tightening monetary policy allowed investors to take a cautious attitude, and the US dollar index fell below 80, but began to rebound during the European trading hours, soaring to 80.304 but later closing at 80.107. LME aluminum prices fell from an intraday high of USD 2,344/mt to a low of USD 2,308/mt, down USD 30/mt, or down 1.28%. LME aluminum inventories fell by 4,275 mt to 4,274,025 mt.
SHFE aluminum prices opened slightly lower this morning, but later advanced rapidly to break through short-term moving averages driven up by other base metals prices, and SMM predicts SHFE 1103 aluminum contract prices will move between RMB 16,400-16,600/mt today.
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