SHANGHAI, Feb. 14 (SMM) – SHFE 1404 aluminum contract started Wednesday’s night session at RMB 13,355/mt. The light metal found a session high of RMB 13,370/mt and a session low of RMB 13,320/mt before closing flat with its opening price. 3,328 lots were traded during the night hours, and positions added 468 lots to 79,040 lots. The most active contract struggled around the daily moving average for most of Thursday’s day trading, but did move higher at the tail of the session to end RMB 60/mt or 0.45% higher at an intraday high of RMB 13,375/mt. 12,304 lots were traded during the day session, and positions added 1,336 lots to 80,376 lots.

Spot aluminum largely traded at RMB 13,030-13,040/mt in Shanghai on Thursday, RMB 12,970-12,990/mt in Wuxi, and RMB 13,040-13,050/mt in Hangzhou. SHFE 1402 aluminum contract rebounded for two consecutive days, fuelling buying interest among traders. Downstream producers still watched from the sidelines. In the afternoon, traded prices edged higher to RMB 13,050-13,060/mt.