Author：Site  Source：Network  Click to rate：1225  Post time：2015-10-20

SHANGHAI, Oct. 20 (SMM) –LME aluminum fell to USD 1,550/mt after opening at USD 1,572.5/mt on Monday, due to slowdown in China’s Q3 GDP growth. The light metal hit as low as USD 1,542/mt during European trading hours, and eventually ended down USD 22.5/mt or 1.43% at USD 1,546.5/mt. Trading volumes were up 475 lots to 14,206 lots, and positions were down 1,130 to 844,000.  

On Monday night, SHFE 1512 aluminum dropped to RMB 11,035/mt after opening at RMB 11,085/mt. With bearishness prevailing, the most active contract should move between RMB 11,030-11,130/mt on Tuesday. In China’s spot market, sellers will rush to sell, but downstream buyers will hold to the sidelines, and this will widen spot discounts further to RMB 120-80/mt over SHFE 1511 aluminum contract.