Author：Site  Source：Original Site  Click to rate：1069  Post time：2014-07-07

Tags: LME aluminum prices,  SHFE aluminum prices,aluminium circle

SHANGHAI, Jul. 7 (SMM) – Three-month aluminum on the London Metal Exchange nudged up to USD 1,933/mt last Friday after opening at USD 1,927.3/mt. The light metal, however, surrendered some gains later on risk aversion before closing at USD 1,922.5/mt. Trading volumes shrank 8,340 lots to 5,114 lots, with positions up 14,214 lots to 902,000 lots.         

Last Friday night, SHFE 1409 aluminum contract drifted lower after starting at RMB 13,665/mt, and finished the night session at RMB 13,605/mt. Trading volumes totaled 20,142 lots, with positions down 40 lots to 159,510 lots.  

The most active SHFE aluminum contract should fluctuate between RMB 13,580-13,640/mt on Monday. In China’s physical market, spot discounts of RMB 30-70/mt are expected over SHFE 1407 aluminum contract.

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