SHANGHAI, Oct. 18 (SMM) – The most active SHFE 1112 aluminum contract gapped lower at RMB 16,570/mt on October 18th after Germany denied a deadline for a final solution to the euro zone debt crisis. Due to strong short selling, the contract plunged over 2% to RMB 16,320/mt after its opening, and narrowed losses with profit-taking by the shorts in the afternoon to finally close at RMB 16,400/mt, down RMB 285/mt or 1.71% from previous trading day. Positions of the contract increased 2,164 lots to 94,396 lots. Transactions during the day broke through 50,000 lots for the first time following the National Day holiday due to strong short selling. With a bearish economic outlook, the most active SHFE aluminum contract is expected to stay below RMB 16,500/mt in the short term.