SHFE 1708 Aluminum Ends Slightly Higher (2017-6-16)  

SHANGHAI, Jun. 16 (SMM) –SHFE 1708 aluminum rose to RMB 13,640/mt on Friday. Some traders bought spot goods while selling SHFE aluminum after delivery of SHFE 1706 aluminum, sending SHFE 1708 aluminum down to around the daily moving average. Finally, the most active contract ended up RMB 10/mt at RMB 13,595/mt. Trading volumes decreased 154,000 lots to 139,000 lots, and positions decreased 6,968 lots to 246,000 lots. Commissioning of new capacity added to market supply, while consumption is softening. So, aluminum prices will remain in downward track.