SHANGHAI, Jul. 14 (SMM) – Last Thursday night, SHFE 1409 aluminum contract slipped to RMB 13,580/mt after starting at RMB 13,600/mt, and finished the night session at RMB 13,640/mt. Trading volumes totaled 14,830 lots, with positions down 952 lots to 154,542 lots. Last Friday, the most active contract climbed to RMB 13,655/mt, but then fell back to close at RMB 13,610/mt.
Spot aluminum largely traded between RMB 13,430-13,450/mt in Shanghai last Friday, a discount of RMB 60-80/mt over SHFE 1407 aluminum contract, versus RMB 13,440-13,460/mt in Wuxi and RMB 13,430-13,440/mt in Hangzhou. Trading activity improved ahead of the weekend, allowing sellers to raise offers. In the afternoon, sellers held offers unchanged, with demand improving further.