SHFE Aluminum Ends with Slim Gains (Dec. 1, 2015)

SHANGHAI, Dec. 1 (SMM) –SHFE 1602 aluminum opened at RMB 10,175/mt on Tuesday. The contract dipped to an intraday low of RMB 10,100/mt due to profit-taking by longs, but then returned to RMB 10,245/mt on short-covering. The most active contract dropped again to RMB 10,190/mt later in the day as longs exited, and finally ended at RMB 10,200/mt, holding onto support at the 20-day moving average. Trading volumes of SHFE 1602 aluminum totaled 264,148 lots, and its positions were down 13,326 to 129,032. Total positions of all SHFE aluminum contract were up 14,020 to 790,276. SHFE forward-month aluminum contracts still outperformed near-month contracts.