SHANGHAI, Jun. 17 (SMM) – Three-month aluminum on the London Metal Exchange opened at USD 1,843/mt on Monday before rising to USD 1,857/mt, spurred by targeted RRR cuts by China’s central bank, rising New York Fed’s manufacturing index and US industrial output. The light metal closed the day at USD 1,855.3/mt. Trading volumes grew 6,255 lots to 930,561 lots, with positions off 894 lots to 8,013 lots.
On Monday night, SHFE 1408 aluminum contract crept higher to RMB 13,500/mt after starting at RMB 13,450/mt, and finished the night session at RMB 13,450/mt. Trading volumes totaled 28,222 lots, with positions up 1,838 lots to 153,424 lots.