Author：Site  Source：Network  Click to rate：1309  Post time：2015-11-04

SHANGHAI, Nov. 4 (SMM) – Buoyed by Alcoa cut news, LME aluminum rose to USD 1,516/mt after opening at USD 1,502/mt on Tuesday. But LME aluminum fell back to USD 1,486/mt later as the US dollar strengthened. Finally, LME aluminum ended up USD 15/mt or 1.01% at USD 1,506/mt. Trading volumes were down 1,303 lots to 801,000 lots, and positions were up 5,867 to 17,469.  

On Tuesday night, SHFE 1601 aluminum moved up after opening at RMB 10,360/mt before ending the night session at RMB 10,400/mt. Longs will remain cautious about entering, and the most active contract should move at RMB 10,340-10,440/mt on Wednesday. In China’s spot market, sellers will hold back goods out of bullishness, and spot discounts are expected at RMB 110-70/mt over SHFE 1511 aluminum contract.