Bullish Traders Pour in after SHFE Aluminum Advances, SMM Reports

SHANGHAI, Aug. 21 (SMM) – SHFE 1709 aluminum performed well on Monday and ended at 16,380 yuan/tonne before lunchtime. 

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Traders were active in south China aluminum market out of bullishness, while downstream producers still showed low buying interest.

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However, trading this week should be better than last week since orders have shown signs of improvement at downstream producers. 

Mainstream traded prices were 16,180-16,200 yuan/tonne in Guangdong this morning, with premiums over Shanghai narrowing to 50 yuan/tonne.   

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