Prices down sharply from resistance at $1,930 per mton amid manufacturing contraction in Europe.

LME 3M aluminum prices closed the session down 0.7% or $12.50 per mton at $1,900 per mton. Early in the session, prices tested the high end of their current trading range, following the release of stronger-than-expected Chinese manufacturing activity data. However, prices then corrected down by as much as 2.0% (to as low as $1,892 per mton), as disappointing manufacturing figures out of Europe triggered profit-taking/short-selling pressure against aluminum. LME aluminum prices remain in range-trading mode between $1,850 and $1,930 per mton.

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