Author：Site  Source：Network  Click to rate：1283  Post time：2015-10-28

SHANGHAI, Oct. 28 (SMM) –LME aluminum opened at USD 1,482/mt on Tuesday. SHFE aluminum stopped falling, helping LME aluminum rise to USD 1,493.5/mt. But LME aluminum fell back to USD 1,476/mt later as the US dollar moved higher, and finally ended up a mere USD 2.5/mt or 0.17% at USD 1,482/mt. Trading volumes were down 2,175 lots to 11,458 lots, and positions were up 2,898 to 794,000.  

On Tuesday night, SHFE 1601 aluminum opened at RMB 10,530/mt. The contract rose to RMB 10,645/mt, but then quickly fell back to RMB 10,535/mt. The most active contract should range RMB 10,500-10,600/mt on Wednesday. In China’s spot market, sellers will hold back goods at lows, and this will shrink spot discounts to RMB 170-130/mt over SHFE 1511 aluminum contract.