SHANGHAI, Oct. 14 (SMM) –LME aluminum fell overnight as negative news flooded in. China’s imports fell at faster pace in September.European and US stock market dropped, so did crude oil prices. In this context, LME aluminum fell to USD 1,573/mt, and ended down USD 1.5/mt at USD 1,592/mt. Trading volumes were down 614 lots to 13,043 lots, and positions were up 2,442 to 820,000.   

On Tuesday night, SHFE 1512 aluminum rose to RMB 11,590/mt after opening at RMB 11,470/mt, but then fell back to RMB 11,490/mt. The most active contract should move between RMB 11,420-11,520/mt on Wednesday. In China’s spot market, supply is plentiful, but demand will be soft, and spot discounts of RMB 0-40/mt are expected over SHFE 1510 aluminum contract.