Author：Site  Source：Original Site  Click to rate：1405  Post time：2014-01-27

Tags: LME aluminum,  SHFE aluminum,aluminium circle

SHANGHAI, Jan. 27 (SMM) – LME aluminum climbed to USD 1,773.3/mt after opening at USD 1,764.5/mt last Friday. Three major US stock markets recorded their largest decline in a single day since last June, souring market sentiment. This triggered selloff in LME aluminum, causing the light metal to move lower to USD 1,758.8/mt and close at USD 1,761/mt. Trading volumes plunged 4,360 lots to 10,391 lots, but positions surged 4,777 lots to 712,880 lots.

SHFE 1404 aluminum contract sank to RMB 13,560/mt after starting last Friday’s night session at RMB 13,660/mt, and closed at RMB 13,565/mt. 4,494 lots were traded during the night hours, and positions added 1,066 lots to 61,058 lots.

The most active SHFE aluminum contract should move lower to RMB 13,550-13,600/mt on Monday as bearish sentiment is dominating. Spot aluminum in Shanghai should trade at discounts of RMB 100-140/mt over SHFE 1402 aluminum contract prices.

from metal.com