SHANGHAIM, Jul. 13 (SMM) – On Thursday, SHFE 1709 aluminum opened at RMB 14,225/mt and then advanced supported by output cut news from Weiqiao Pioneering Group. Later, the contract rallied to RMB 14,355/mt after falling. SHFE 1709 aluminum ended at RMB 14,320/mt. Trading volumes reduced 152,768 to 299,940 lots and positions rose 19,028 to 299,940.
SHFE 1709 aluminum will open higher on Thursday’s night trading with simmering of the output cut news. Attention should be on production condition at aluminum smelters in Shandong in a short term.