SHANGHAI, Apr. 25 (SMM) – On Wednesday night, SHFE 1407 aluminum contract crept higher to RMB 13,610/mt after starting at RMB 13,430/mt, and finished the night session at RMB 13,550/mt. Trading volumes totaled 29,812 lots, and positions added 4,904 lots to 121,700 lots. On Thursday, the most active contract extended gains, touching a session high of RMB 13,725/mt before closing up RMB 265/mt or 1.97% at RMB 13,695/mt. Trading volumes soared to 70,948 lots, but positions decreased 178 lots to 121,522 lots.
Spot aluminum largely traded at RMB 13,350-13,400/mt in Shanghai, RMB 13,360-13,420/mt in Wuxi, and RMB 13,370-13,430/mt in Hangzhou on Thursday. SHFE 1405 aluminum contract gained around RMB 250/mt, encouraging sellers in physical markets to raise offers sharply as well. Rising prices fuelled buying interest of traders. In the afternoon, high offers left trading muted.