SHANGHAI, Jun. 20 (SMM) –On last Friday’s night trading, SHFE 1608 aluminum rose to RMB 11,985/mt after opening at RMB 11,965/mt. Prices then fell back to RMB 11,910/mt, but then rebounded before ending at RMB 11,940/mt as worse-than-expected US new home data triggered long buying.
On Monday, the most active contract climbed to RMB 12,125/mt after opening at RMB 11,950/mt, and finally ended at RMB 12,100/mt. Trading volumes were up 63,472 lots to 192,464 lots, and positions were up 1,906 to 203,438. Total positions of all SHFE aluminum contracts were down 3,710 to 525,364. Falling aluminum stocks in China, weaker dollar and rising crude oil prices pushed SHFE aluminum up.