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‘Mystery’ Chinese Trades Fuel Aluminum's Biggest Gain Since May

  • Volume in Shanghai climbs, feeding aluminum rally on LME
  • More than 68,000 lots trade on Shanghai Futures Exchange
Production Inside A Aluminium SE Plant
Photographer: Jasper Juinen/Bloomberg
Updated on

Chinese traders are throwing their weight around in the aluminum market.

On Wednesday, just when U.S. traders were settling in at their desks, counterparts on the other side of the globe were piling into the Shanghai Futures Exchange. In the half hour ended 9:30 p.m. in Shanghai, 68,430 contracts for delivery in October changed hands, helping trigger buy orders on the London Metal Exchange that sent the metal to its biggest gain in three months.