SHANGHAI, Oct. 8 (SMM) – The most active aluminum contract on the Shanghai Futures Exchange (SHFE), SHFE 1312 aluminum contract, hovered near its opening price after starting the day higher at RMB 14,370/mt on Tuesday. SHFE aluminum for December delivery was dragged down by falling SHFE 1310 aluminum contract to RMB 14,325/mt at the tail of the session, but did rebound later, closing RMB 70/mt higher at RMB 14,355/mt. Trading volumes were up 334 lots to 7,534 lots, but positions were off 2,358 lots to 71,484 lots. The light metal is expected to consolidate at high levels.