SHANGHAI, Aug. 26 (SMM) –SHFE 1510 aluminum opened at RMB 11,855/mt on Tuesday. The most active contract ranged RMB 11,850-11,910/mt before ending up RMB 40/mt or 0.34% at RMB 11,870/mt. The rebound was driven by short-covering. Trading volumes were down 13,500 lots to 41,970 lots, and positions were down 5,340 lots.
SHFE 1509 aluminum moved around RMB 11,860/mt on Tuesday. Aluminum prices were mainly between RMB 11,770-11,790/mt in Shanghai, discounts of RMB 70-90/mt over September aluminum on the SHFE, versus RMB 11,770-11,800/mt in Wuxi and RMB 11,760-11,780/mt in Hangzhou. Trading was mainly among traders. In the afternoon, traders raised offers by RMB 10/mt to RMB 11,780-11,790/mt after SHFE aluminum rose, with trading thin.
