Author：Site  Source：Network  Click to rate：1385  Post time：2015-10-21

SHANGHAI, Oct. 21 (SMM) –LME aluminum bottomed out on Tuesday. The light metal fell to USD 1,532.5/mt after opening at USD 1,548.5/mt, due to slowdown in China’s Q3 GDP growth and depressed aluminum prices in China. LME aluminum rallied later as many shorts exited, but still ended down USD 3.5/mt at USD 1,543/mt. Trading volumes were up 807 lots to 15,013 lots, and positions were down 14,566 to 829,000.  

On Tuesday night, SHFE 1512 aluminum dropped to RMB 10,940/mt after opening at RMB 11,015/mt. SHFE 1601 aluminum became the most active contract, whose positions surged 5,194 to 143,000. A lack of positive news means SHFE aluminum will fall further to RMB 10,860-10,960/mt on Wednesday. In China’s spot market, sellers will remain eager to sell, and this will widen spot discounts further to RMB 140-100/mt over SHFE 1511 aluminum contract.