SHANGHAI, Nov. 6 (SMM) –SHFE aluminum extended gains on positive news. Chinese stock market rose, cheering market up. Rumor says that China will hike rebate on aluminum semis exports. SHFE 1601 aluminum opened at RMB 10,535/mt on Thursday, and rose to RMB 10,620/mt. Finally, it ended up RMB 150/mt or 1.44% at RMB 10,560/mt. Trading volumes were up 117,000 lots to 307,000 lots, and positions were down 21390 to 241,000.
In east China spot aluminum market, prices tracked SHFE aluminum up on Thursday. Higher prices cooled buying interest of downstream producers. Prices were mainly between RMB 10,380-10,390/mt in Shanghai, discount of RMB 120-110/mt over SHFE 1511 aluminum, versus RMB 10,380-10,400/mt in Wuxi and RMB 10,380-10,390/mt in Hangzhou.