SHANGHAI, Sept. 22 (SMM) –LME aluminum opened at USD 1,626.5/mt on Monday. The US dollar index climbed to near 96 as remarks by US Fed official triggered expectations for rate hike. This caused LME aluminum to fall to USD 1,608/mt before ending down USD 7/mt at USD 1,614/mt. Trading volumes were down 4,640 lots to 11,027 lots, and positions were down 8,241 to 817,000.
On Monday night, SHFE 1512 aluminum fell to RMB 11,835/mt, with the KDJ pointing downward. The most active contract might fall to RMB 11,800-11,900/mt on Tuesday In China’s spot market, pre-holiday stocking could narrow spot discounts to RMB 50-10/mt over SHFE 1510 aluminum contract.