SHANGHAI, Apr. 21 (SMM) – Last Friday night, SHFE 1406 aluminum contract was range-bound after starting at RMB 13,230/mt, and finished the night session flat with the opening price. Trading volumes totaled 952 lots, and positions added 62 lots to 114,216 lots.
With LME still closed today, the most active SHFE aluminum contract should fluctuate in a tight RMB 13,190-13,230/mt range on Monday. In China’s physical market, spot discounts of RMB 110-150/mt are expected over SHFE 1405 aluminum contract.