SHANGHAI, Aug. 6 (SMM) –SHFE 1510 aluminum hovered around RMB 12,090/mt after opening at RMB 12,140/mt on Wednesday. The light metal followed LME aluminum up to RMB 12,140/mt in the afternoon, but then fell back before ending lower at RMB 12,120/mt. Trading volumes were down 13,514 lots to 18,196 lots, and positions were up 1,026 lots to 146,000 lots.
Aluminum prices were mainly between RMB 11,960-11,970/mt in Shanghai on Wednesday, discounts of RMB 40-30/mt over August aluminum on the SHFE, versus RMB 11,930-11,960/mt in Wuxi and RMB 11,960-11,970/mt in Hangzhou. Downstream consumption was sluggish. Prices in Shanghai and Hangzhou held stable, those in Wuxi slipped RMB 10/mt. Ample supply prevented prices from rising. In the afternoon, some raised offers to RMB 11,980-12,000/mt after SHFE aluminum rose.