SHANGHAI, Aug. 3 (SMM) –SHFE 1510 aluminum contract struggled around the daily moving average last Friday. The contract touched day’s high of RMB 12,280/mt, and finally ended down RMB 20/mt or 0.16% at RMB 12,255/mt. Trading volumes were up 3,646 lots to 27,614 lots, and positions were up 2,518 lots to 12,262 lots.
Aluminum prices were mainly between RMB 12,100-12,120/mt in Shanghai last Friday, discounts of RMB 80-100/mt over August aluminum on the SHFE, versus RMB 12,080-12,120/mt in Wuxi and RMB 12,100-12,120/mt in Hangzhou. Downstream consumption, though up slightly, remained sluggish due to month-end cash crunch, sending prices down. In the afternoon, trading was subdued.
