On Monday, SHFE 1503 aluminum contract, the most active one, slid to RMB 12,960/mt after starting at RMB 12,970/mt as LME aluminum slumped during the New Year holiday. Falling SHFE zinc prices also dampened investor sentiment. Finally, the contract ended at RMB 12,895/mt. Trading volumes totaled 56,386 lots, with positions up 10,058 to 157,426. Further decline may be on the way.
Zhejiang Yaang Pipe Industry Co., Limited