Author：Site  Source：Original Site  Click to rate：1065  Post time：2014-11-07

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

SHANGHAI, Nov. 7 (SMM) – Three-month aluminum on the London Metal Exchange drifted lower to USD 2,042.25/mt after opening at USD 2,058.25/mt on Thursday. But prices rebounded to USD 2,078.75/mt later on expectations for loose monetary policy from the ECB and positive US employment data. Finally, the light metal ended at USD 2,072.25/mt. Trading volumes were down 4,476 lots to 14,121 lots, with positions up 6,965 lots to 859,113 lots.    
 
On Thursday night, SHFE 1501 aluminum contract started at RMB 13,865/mt, and finished the night session at RMB 13,895/mt. Trading volumes totaled 45,308 lots, with positions up 5,970 lots to 163,130 lots. 
 
The most active SHFE aluminum contract should move between RMB 13,890-13,940/mt on Friday. In China’s spot market, spot aluminum is expected to trade at discounts of RMB 50-90/mt over SHFE 1411 aluminum contract. 

from metal.com