SHANGHAI, Sept. 2 (SMM) –SHFE 1511 aluminum quickly fell to RMB 11,825/mt after opening at RMB 11,880/mt on Tuesday. The most active contract rebounded later in the day, but then fell back again before ending down RMB 65/mt or 0.55% at RMB 11,825/mt. Trading volumes were up 16,882 lots to 50,776 lots, and positions were up 774 lots to 122,000 lots.
Aluminum prices were mainly between RMB 11,730-11,740/mt in Shanghai on Tuesday, discounts of RMB 60-50/mt over SHFE 1509 aluminum, versus RMB 11,730-11,750/mt in Wuxi and Hangzhou. Trading activity picked up as the three-day holiday is just around the corner.