SHANGHAI, Nov. 12 (SMM) – LME aluminum started Monday at USD 1,822/mt, finding day’s high of USD 1,825/mt and day’s low of USD 1,803/mt. The light metal ended USD 6.5/mt or 0.36% lower at USD 1,810/mt. Trading volumes shrank 2,795 lots to 10,034 lots, but positions added 10,742 lots to 754,076 lots.
Markets are wary amid the ongoing Third Plenary Session of the 18th Communist Party of China (CPC) Central Committee, which ends on November 12. SHFE 1401 aluminum contract, the most active one, is expected to open at RMB 14,300/mt on Tuesday and move in a tight RMB 14,290-14,330/mt band. In spot markets, a premium of RMB 0-40/mt is expected over SHFE 1311 aluminum contracts.