Author：Site  Source：Original Site  Click to rate：1116  Post time：2014-07-14

Tags: LME aluminum prices,  aluminium sheet

SHANGHAI, Jul. 14 (SMM) – Three-month aluminum on the London Metal Exchange slipped to USD 1,918/mt last Friday, but then rebounded to USD 1,940.5/mt as worries over financial conditions of Portugal’s largest bank eased. Finally, the light metal closed at USD 1,938/mt. Trading volumes contracted 3,956 lots to 8,922 lots, with positions up 10,340 lots to 905,000 lots. 

Last Friday night, SHFE 1409 aluminum contract advanced to RMB 13,695/mt after starting at RMB 13,635/mt, and finished the night session at RMB 13,660/mt. Trading volumes totaled 33,226 lots, with positions up 938 lots to 149,262 lots.  

The most active SHFE aluminum contract should fluctuate between RMB 13,630-13,680/mt on Monday. In China’s physical market, spot discounts of RMB 50-90/mt are expected over SHFE 1407 aluminum contract.        

from metal.com