SHANGHAI, Apr. 21 (SMM) – Last Thursday night, SHFE 1406 aluminum contract inched down to RMB 13,175/mt after starting at RMB 13,230/mt, and finished the night session at RMB 13,205/mt. Trading volumes totaled 4,800 lots, and positions contracted 214 lots to 117,826 lots. Last Friday, the most active contract slid to RMB 13,170/mt before rebounding above the 5-day moving average, closing at RMB 13,225/mt. Trading volumes totaled 8,700 lots, and positions fell 3,672 lots to 114,154 lots.
Spot aluminum largely traded at RMB 12,970-12,980/mt in Shanghai and RMB 12,980-12,990/mt in Wuxi and Hangzhou last Friday. SHFE 1405 aluminum contract inched down, deterring traders from entering the market. Downstream producers increased raw material purchases slightly ahead of the weekend. In the afternoon, offers were reported at RMB 12,980-12,990/mt, and a few transactions were concluded.