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SHFE Aluminum Closes Lower (2017-1-20)

iconJan 20, 2017 20:22
Source:SMM
SHFE 1703 aluminum opened at RMB 13,350/mt and finally ended at RMB 13,335/mt.

SHANGHAI, Jan. 20 (SMM) – On Friday, SHFE 1703 aluminum opened at RMB 13,350/mt and then fluctuated at lows. The contract later advanced to RMB 13,435/mt with entering of longs. During the afternoon trading, SHFE 1703 aluminum dropped with falling ferrous metals. The contract later dipped quickly to RMB 13,330/mt, hurt by leaving of long, and finally ended at RMB 13,335/mt. Trading volumes fell to 230,820 lots and positions dropped 8,764 to 296,878. Base metals and ferrous metals all dropped on Friday. SHFE 1703 aluminum is resistant to decline and kept fluctuating at around the 5-day moving average.

SHFE 1703 aluminum will drop in the coming week.

SHFE aluminum
LME aluminum
aluminum prices

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