China’s aluminum prices continue to test the low end of their trading range

SHFE two-month aluminum prices closed the overnight session down 0.2% at 13,640 yuan per mton ($1,751 per mton, excluding VAT). In intraday terms, prices tested levels as low as 13,595 yuan per mton ($1,745 per mton, excluding VAT) amid lingering concerns about global demand growth, although the announcement of measures to prop up construction activity provided some downward support. SHFE aluminum prices have range traded mainly within 13,600–13,800 yuan per mton ($1,745–$1,770 per mton, excluding VAT) over the past four weeks.

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