SHANGHAI, Jun. 4 (SMM) – The most active SHFE 1408 aluminum contract started Tuesday’s night session lower at RMB 13,440/mt, but later advanced to RMB 13,495/mt before ending at RMB 13,485/mt. During the night session, traded volumes totaled 18,854 lots, while positions gained 942 lots to 136,020 lots. On Wednesday, SHFE aluminum prices fell further, surrendering gains made during the night session, with SHFE copper prices leading the losses. The light metal later sank as low as RMB 13,360/mt, and closed at RMB 13,365/mt. Traded volumes reached 36,654 lots, while positions lost 216 lots to 135,804 lots on Wednesday. The bearish sentiment gradually dominated the market as an investigation into metal trade finance irregularities at the Chinese port of Qingdao persisted. SHFE aluminum prices, however, can still find some base support at major moving averages.