Author：Site  Source：Network  Click to rate：1215  Post time：2015-10-09

SHANGHAI, Oct. 9 (SMM) –LME aluminum moved all the way down after opening at USD 1,577.5/mt on Thursday. The light metal retreated from the 5-day and 10-day moving averages to a low of USD 1,554/mt. Finally, LME aluminum ended down USD 18/mt or 1.14% at USD 1,561/mt. Trading volumes were down 3,747 lots to 10,982 lots. 

On Thursday night, SHFE 1512 aluminum fell to the lowest since February 2009 at RMB 11,380/mt after opening at RMB 11,465/mt, as investors raised bearish bets aggressively. The most active contract will remain weak at RMB 11,380-11,460/mt on Friday as it is widely expected that smelters will not cut output significantly. In China’s spot market, spot discounts of RMB 0-40/mt are expected over SHFE 1510 aluminum contract.