SHANGHAI, Sept. 6 (SMM) –SHFE 1511 aluminum opened at RMB 11,860/mt on Wednesday. The most active contract fell to RMB 11,815/mt, but then rebounded before ending up RMB 25/mt or 0.21% at RMB 11,850/mt. Trading volumes were down 31,296 lots to 19,480 lots, and positions were down 906 lots to 121,000 lots.
Aluminum prices were mainly between RMB 11,750-11,770/mt in Shanghai on Wednesday, discounts of RMB 30-10/mt over SHFE 1509 aluminum, versus RMB 11,760-11,770/mt in Wuxi and RMB 11,750-11,760/mt in Hangzhou. Trading activity was brisk on the last day before the three-day holiday. This allowed prices to rise and narrow spot discounts. In the afternoon, some cut offers to RMB 11,750/mt as trading activity waned.