SHANGHAI, Jun. 27 (SMM) – Three-month aluminum on the London Metal Exchange opened at USD 1,900/mt on Thursday. The light metal slid to USD 1,895.5/mt on disappointing US consumer spending data before ending at USD 1,898/mt. Trading volumes contracted 4,851 lots to 9,454 lots, with positions up 3,021 lots to 897,000 lots.
On Thursday night, SHFE 1409 aluminum contract slipped after starting at RMB 13,580/mt, and finished the night session at RMB 13,555/mt. Trading volumes totaled 14,438 lots, with positions down 70 lots to 141,154 lots.
The most active SHFE aluminum contract should fluctuate between RMB 13,520-13,570/mt on Friday. In China’s physical market, spot discounts of RMB 70-110/mt are expected over SHFE 1407 aluminum contract.