SHANGHAI, Mar. 19 (SMM) – The most active SHFE aluminum contract for May delivery closed down RMB 5/mt or 0.03% at RMB 16,150/mt after a higher opening at RMB 16,190/mt last Friday, with only 2,702 lots of transactions being reported. Positions of the SHFE aluminum contract for June delivery climbed 1,678 lots and its transacted volume beat that of the May contract.
Spot aluminum was traded between RMB 15,960-15,990/mt in Shanghai, at discounts of RMB 60-90/mt over the SHFE current-month aluminum price. Trading in Wuxi was relatively active supported by strong local demand. The current-month contract stabilized at RMB 16,050/mt following its change to April delivery. Its stability failed to push spot price above RMB 16,000/mt, however, restrained by weak demand.