SHANGHAI, Sept. 11 (SMM) – SHFE 1511 aluminum climbed to RMB 12,060/mt after opening at RMB 12,030/mt on Friday. The most active contract fell back later, but still ended up RMB 35/mt or 0.29% at RMB 12,045/mt. Trading volumes were down 12,588 lots to 24,738 lots, and positions were up 64 lots to 118,000 lots. Smelters are unwilling to sell at below RMB 12,000/mt out of optimism that demand will pick up before the upcoming Mid-Autumn Festival and Chinese National Day holiday. This should support SHFE aluminum as well.
