SHANGHAI, Apr. 23 (SMM) – China decided to remove provisional export tax on aluminum bar and rod, cheering market up. This news drove SHFE 1507 aluminum contract up to RMB 13,280/mt on Thursday. Finally, the most active contract ended at RMB 13,210/mt. Trading volumes totaled 58,130 lots, with positions up 1,228 to 119,028. Prices are expected to challenge resistance at the 60-day moving average as market will continue to digest the favorable export policy.
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