SHANGHAI, Aug. 25 (SMM) – Last Friday night, SHFE 1410 aluminum contract moved sideways after starting at RMB 14,320/mt, and finished the night session at RMB 14,310/mt. Trading volumes totaled 37,598 lots, with positions down 974 lots to 126,836 lots.
On Monday, November aluminum on the SHFE became the most active contract, which dipped to RMB 14,275/mt shortly after opening at RMB 14,330/mt. The light metal ended the day at RMB 14,315/mt. Trading volumes totaled 27,796 lots, with positions up 1,528 lots to 123,360 lots. Prices are expected to hover near current highs for the near future