SHANGHAI, Jan. 22 (SMM) –On Tuesday night, SHFE 1503 aluminum contract slipped to RMB 12,750/mt after starting at RMB 12,820/mt, and finished the night session at RMB 12,815/mt. Trading volumes totaled 13,980 lots, with positions down 1,774 to 131,330.

 

On Wednesday, the most active contract fell to RMB 12,745/mt before ending at RMB 12,775/mt. Trading volumes totaled 36,746 lots, with positions down 4,274 to 128,830. Given the changes in positions on the SHFE, SHFE 1504 aluminum contract may become the most active one today.   

 

Spot aluminum largely traded between RMB 12,660-12,670/mt in Shanghai on Wednesday, discounts of RMB 50-60/mt over SHFE 1502 aluminum contract, versus RMB 12,660-12,680/mt in Wuxi and Hangzhou. Sellers cut offers out of bearish, but consumption remained sluggish. In the afternoon, trading came to a virtual standstill.