SHFE and LME Aluminium Closed With Gains (Apr 14, 2023)

SHANGHAI, Apr 17 (SMM) – The most-traded SHFE 2305 aluminium contract opened at 18,765 yuan/mt at last Friday’s night session and climbed to 18,830 yuan/mt, but then fell back to 18,700 yuan, closing up 5 yuan/mt or 0.03%.

LME aluminium opened at $2,362/mt last Friday and closed at $2,390/mt, up $28/mt or 1.14%.

On the macro level, market was betting that the US Fed would pause interest rate hike amid growing fears of US economic recession, boosting the aluminium market.