SHANGHAI, Jun. 13 (SMM) – On Wednesday night, SHFE 1408 aluminum contract crept higher to RMB 13,630/mt after starting at RMB 13,580/mt. Nevertheless, the most active contract retreated to RMB 13,540/mt before finishing the night session at RMB 13,580/mt. Trading volumes totaled 76,506 lots, with positions off 2,746 lots to 179,698 lots. On Thursday, August aluminum on the SHFE fell to RMB 13,445/mt before closing RMB 200/mt lower at RMB 13,460/mt. Trading volumes totaled 68,368 lots, with positions down 11,974 lots to 167,724 lots.
Spot aluminum largely traded between RMB 13,280-13,290/mt in Shanghai on Thursday, a discount of RMB 80-90/mt over SHFE 1406 aluminum contract. Mainstream traded prices were RMB 13,250-13,270/mt Wuxi and RMB 13,300-13,310/mt in Hangzhou. Sellers raised offers now that the delivery date of SHFE 1406 aluminum contract is approaching. High offers cooled buying. In the afternoon, trading activity grew quiet as falling SHFE aluminum prices drove sellers and buyers to the sidelines.