SHANGHAI, Jun. 26 (SMM) – LME aluminum rebounded overnight following twelve straight days of losses, helping SHFE 1310 aluminum contract open higher at RMB 14,330/mt on Wednesday. However, the most active SHFE aluminum contract followed other base metals down as longs were pessimistic and as A-shares extended losses. Finally, SHFE aluminum for October delivery closed at RMB 14,240/mt, down RMB 20/mt or 0.14%. Trading volumes contracted 3,722 lots to 8,442 lots, but positions increased 1,470 lots to 69,866 lots. SHFE 1310 aluminum contract is capped under the 5-day moving average due to market pessimism, and is expected to hold stable at RMB 14,200/mt at the bottom.