SHFE Aluminum Ends with Gains (2016-12-27)

SHANGHAI, Dec. 27 (SMM) – On Tuesday, SHFE 1702 aluminum opened at RMB 12,635/mt and then advanced before fluctuated at around RMB 12,700/mt. The contract later climbed above RMB 12,700/mt to RMB 12,815/mt with positions closing shorts but met resistance at the 10-day moving average. SHFE 1702 aluminum finally closed at RMB 12,790/mt. Trading volumes fell to 12,790 lots and positions dropped 7,806 to 238,486.

SHFE 1702 aluminum is expected to challenge the 10-day moving average on Tuesday’s night trading.