SHANGHAI, Jul. 23 (SMM) –SHFE 1510 aluminum contract fell in the afternoon as shorts flooded in, and ended at an intraday low of RMB 12,355/mt. Trading volumes totaled 34,332 lots, and positions were up 11,578 lots to 134,002 lots.
Aluminum prices were mainly between RMB 12,180-12,190/mt in Shanghai on Wednesday, discounts of RMB 120-140/mt over August aluminum on the SHFE, versus RMB 12,180-12,190/mt in Wuxi and RMB 12,190-12,220/mt in Hangzhou. SHFE 1508 aluminum contract continued falling, triggering bearishness in spot market. Sellers rushed to sell, while processors bought only to need. In the afternoon, trading remained thin.
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