Aluminium Continued to Fall. EU Put New Sanctions on Russia.[SMM Aluminium Morning News]

SHANGHAI, Mar 15(SMM)- The most-traded SHFE 2204 aluminium contract opened overnight session at 21,800 yuan/mt, with the lowest and highest prices at 21,655 yuan/mt and 21,885 yuan/mt before closing at 21,730 yuan/mt, down 175 yuan/mt and up 0.8% than Monday.

LME aluminium opened at $3,497/mt on last night and closed at $3,315/mt, down $165/mt or 4.74% than Monday.

Property: In 2021, a total of 2,111 residential-related sites were sold in 22 cities after three rounds of concentrated land supply, and as of February 9, 2022, only 21% had started construction.

Overseas: The EU announced new sanctions against Russia, cancelling the most favoured nation treatment to Russia, banning EU companies from investing in the Russian oil and gas industry, as well as exporting luxury goods and premium cars to Russia, and banning the export of Russian steel to the EU.