SHANGHAI, Apr. 23 (SMM) – On Monday night, SHFE 1406 aluminum contract fluctuated in a RMB 13,190-13,205/mt band after starting at RMB 13,200/mt, and finished the night session at RMB 13,205/mt. Trading volumes totaled 456 lots, and positions added 54 lots to 112,268 lots. On Tuesday, the most active contract followed LME aluminum up to RMB 13,260/mt in the afternoon before closing the day up RMB 50/mt at RMB 13,250/mt. Trading volumes totaled 11,434 lots, and positions fell 3,108 lots to 109,160 lots.
Spot aluminum largely traded at RMB 13,010-13,020/mt in Shanghai and Wuxi, and RMB 13,020-13,030/mt in Hangzhou on Tuesday. Sellers raised offers above RMB 13,000/mt out of optimism, while downstream producers sourced to need. In the afternoon, rising SHFE 1405 aluminum contract allowed sellers to raise offers to RMB 13,030-13,040/mt, and some buyers were still willing to buy at high prices.