SHANGHAI, Jul. 28 (SMM) –LME aluminum opened at USD 1,645/mt on Monday. The light metal fell to near six-year low of USD 1,633/mt, but then recovered some losses, and ended down USD 2/mt or 0.12%. Trading volumes were up 33 lots to 8,485 lots, and positions were up 681 to 884,000. LME aluminum inventories fell 9,275 mt to 3,471,225 mt.
SHFE 1510 aluminum contract is expected to move at RMB 12,200-12,300/mt on Tuesday. In China’s spot market, spot discounts of RMB 90-130/mt are expected over SHFE 1508 aluminum contract.