SHANGHAI, Apr. 27 (SMM) – The most active SHFE aluminum contract for July delivery opened at RMB 16,155/mt and closed up RMB 35/mt or 0.22% at RMB 16,180/mt on Thursday, heading toward the 20-day moving average supported by profit-taking by shorts. Transacted contracts dropped by half to 4,878 lots while positions decreased 1,770 lots to 65,250 lots.
Spot aluminum traded between RMB 16,020-16,050/mt in Shanghai, at wider discounts of RMB 10-40/mt over the current-month SHFE aluminum contract as more traders wanted to liquidate stocks. Spot quotations climbed a little in Wuxi due to supply tightness. The overall traded volume dropped slightly since demand remains weak.