SHANGHAI, Jun. 26 (SMM) – On Tuesday night, SHFE 1408 aluminum contract drifted lower after starting at RMB 13,525/mt, and finished the night session at RMB 13,465/mt. Trading volumes totaled 25,648 lots, with positions up 106 lots to 123,930 lots. On Wednesday, SHFE 1409 aluminum contract became the most active one, which rebounded after nursing losses at first and closed the day at RMB 13,590/mt. Trading volumes totaled 42,130 lots, with positions up 15,130 lots to 131,148 lots.
Spot aluminum largely traded between RMB 13,300-13,310/mt in Shanghai and Wuxi on Wednesday, a discount of RMB 80-90/mt over SHFE 1407 aluminum contract. Mainstream traded prices were RMB 13,330-13,340/mt in Hangzhou. Some sellers were anxious to sell as the month-end liquidity crunch is biting in, but buyers showed little interest, bringing prices down. In the afternoon, sellers raised offers slightly after SHFE 1407 aluminum contract moved higher, with trading muted.