SHANGHAI, Oct. 20 (SMM) – The most active SHFE 1112 aluminum contract gapped over 1% lower at RMB 16,280/mt today, and dropped later to RMB 15,940/mt due to strong short selling, with the loss widening to 3.2%. After narrowing loss at the tail of trading, the contract finally closed at RMB 16,145/mt, down RMB 320/mt or 1.94% from previous trading. Positions of the contract decreased 4,794 lots to 83,060 lots. Most SHFE aluminum contracts dropped below RMB 16,000/mt during today’s trading, but returned above the mark before closing. Positions of the SHFE 1201 contract surged 16,834 lots to 67,058 lots today as a result of position transfer. Before the most active SHFE aluminum contract changes, it will struggle at the RMB 16,000/mt, and will drop further if it fails to consolidate at the mark.