China's aluminum prices fall toward the low end of their trading range.
SHFE two-month aluminum prices closed the overnight session down 0.5% at 13,670 yuan per mton ($1,756 per mton, excluding VAT) and tested levels as low as 13,610 yuan per mton ($1,748 per mton, excluding VAT) in after-hours trading. Prices were pressured down by profit taking triggered across domestic equity prices amid rising demand growth concerns. Nevertheless, reports of a considerable weekly decline in domestic visible inventories lent some support to aluminum prices. Short-term range trading remains in place.
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