SHANGHAI, Apr. 16 (SMM) – On Monday night, SHFE 1406 aluminum contract hovered around RMB 13,240/mt for most of the night session after starting at RMB 13,230/mt, and finished the session at RMB 13,245/mt. Trading volumes totaled 8,984 lots, and positions added 216 lots to 124,440 lots. On Tuesday, the most active contract slipped to RMB 13,195/mt before closing down RMB 5/mt at RMB 13,210/mt. Trading volumes during the daytime hours totaled 14,318 lots, and positions tumbled 1,888 lots to 122,552 lots. SHFE 1407 aluminum contract looks set to become the most active contract soon.
Spot aluminum largely traded at RMB 12,970-12,990/mt in Shanghai, RMB 12,980-12,990/mt in Wuxi, and RMB 12,990-13,000/mt in Hangzhou on Tuesday. SHFE 1405 aluminum contracts, which will switch to the new current-month contract tomorrow, were firm, luring buyers in. In the afternoon, offers were unchanged and trading was thin.