SHANGHAI, Oct. 30 (SMM) – On Wednesday night, SHFE 1501 aluminum contract jumped to RMB 13,975/mt after starting at RMB 13,865/mt, and finished the night session at RMB 13,935/mt. Trading volumes increased to 59,244 lots, with positions up 7,824 lots to 144,866 lots.
On Thursday, the most active contract dropped to RMB 13,850/mt before ending the day at RMB 13,860/mt. Trading volumes totaled 46,954 lots, with positions down 2,114 lots to 142,752 lots. Prices are expected to test support at the 20-day moving average in the short term.