SHANGHAI, Aug. 20 (SMM) – On Tuesday night, SHFE 1410 aluminum contract moved sideways after starting at RMB 14,145/mt, and finished at RMB 14,120/mt. Trading volumes totaled 30,484 lots, with positions up 2,384 lots to 129,908 lots.
On Wednesday, the most active contract continued to hover around the daily moving average in the morning session, but moved higher in the afternoon before ending at RMB 14,160/mt. Trading volumes totaled 40,828 lots, with positions down 4,330 lots to 125,578 lots. The light metal is expected to remain strong in the near term.