SHANGHAI, Jun. 18 (SMM) – LME aluminum inventories soared to a record high of 5.28 million mt last night, causing LME aluminum to fall for seven consecutive days to below USD 1,850/mt. Increased spot aluminum supply in China is put growing downward pressure on aluminum prices. Shorts positions surged, turning SHFE 1310 aluminum contracts into the new most active contract, which opened slightly lower at RMB 14,660/mt on Tuesday. Traded volumes surged to over 20,000 lots, and positions grew to more than 9,000 lots, sending SHFE aluminum for October delivery to RMB 14,490/mt. Finally, SHFE 1310 aluminum contract closed down RMB 185/mt or 1.26% at RMB 14,500/mt. Almost all SHE aluminum contracts fell back to RMB 14,500/mt, with the most traded SHFE aluminum contract expected to hover near RMB 14,500/mt ahead of the result of the US Fed policy meeting.