SHANGHAI, Jul. 2 (SMM) – Three-month aluminum on the London Metal Exchange rose to USD 1,898/mt on Tuesday as China’s official manufacturing PMI for June and HSBC’s China manufacturing PMI were both positive. However, the light metal fell back to USD 1,871.3/mt following disappointing manufacturing PMI from the euro zone and the US. Finally, three-month aluminum on the LME ended at USD 1,882/mt. Trading volumes shrank 1,514 lots to 13,506 lots, with positions up 798 lots to 892,000 lots.
On Tuesday night, SHFE 1409 aluminum contract started at RMB 13,550/mt. The most active contract touched a session high of RMB 13,575/mt and session low of RMB 13,530/mt before finishing at RMB 13,545/mt. Trading volumes totaled 25,522 lots, with positions down 2,322 lots to 147,968 lots.