SHANGHAI, Nov. 18 (SMM) – January aluminum on the SHFE, the most active one, opened at RMB 14,195/mt last Friday. The light metal stayed above the daily moving average for most time of the session, finding day’s high of RMB 14,225/mt. Finally, SHFE 1401 aluminum contract finished RMB 5/mt higher at RMB 14,195/mt. Trading volumes increased 740 lots to 9,886 lots, and positions also added 1,298 lots to 45,656 lots.
Spot aluminum prices were RMB 14,380-14,390/mt in Shanghai, a premium of RMB 20-30/mt over SHFE 1311 aluminum contract. Prices remained flat RMB 14,380-14,390/mt and Wuxi, and RMB 14,360-14,370/mt in Hangzhou. Traded prices for Qingtongxia aluminum ingot fell on the upper end of the price band. Downstream producers increased purchases slightly before the upcoming weekend. In the afternoon, spot markets turned quiet.