SHANGHAI, Nov. 20 (CBI China) -- Shanghai aluminum opened low today after two-straight-day redound stimulated by policies; after noon, panic selling-out emerged as lead by a sharp drop in LME, closing at RMB 13,415/mt, down RMB 425/mt. LME aluminum prices were weak causing SHFE/LME spread too large. SHFE aluminum prices will inevitably drop further after stimulated by policies.
In recent period, government announced policies more frequently, thus aluminum prices will be more variable, but in the long run it is still not optimistic.
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