SHANGHAI, Apr. 21 (SMM) –On Monday night, SHFE 1506 aluminum contract dropped to RMB 13,065/mt after starting at RMB 13,100/mt. The most active contract ended the night session at RMB 13,075/mt. Trading volumes totaled 5,930 lots, with positions down 274 to 114,982.
On Tuesday, the most active contract hovered narrowly below the 5-day moving average before closing down RMB 30/mt at RMB 13,095/mt. Trading volumes totaled 14,598 lots, with positions down 2,386 to 112,870. Prices are expected to move between RMB 13,000-13,100/mt in the short term.