SHANGHAI, Apr. 11 (SMM) – SHFE 1206 aluminum contract price gapped lower at RMB 16,050/mt on Wednesday due to the plunging LME aluminum prices overnight. Trading volumes rose to over 7,000 lots, and positions maintained at 48,444 lots. Spot aluminum prices in Nanhai were between RMB 16,000-16,020/mt, with average price down RMB 20/mt. As sellers held spot prices firmly while futures prices fell, most downstream buyers only waited on the sidelines. Meanwhile, most traders were not willing to move goods and maintained quotations high, with only a few transactions concluded at RMB 16,000/mt.