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SMM Brief Review - 2011/8/25 Aluminum Futures
Aug 25,2011 17:20CST
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Source:SMM
Most active SHFE 1111 aluminum contract opened slightly lower at RMB 17,250/mt and closed RMB 40/mt or 0.23% higher at RMB 17,320/mt on August 25th.

SHANGHAI, Aug. 25 (SMM) – Most active SHFE 1111 aluminum contract opened slightly lower at RMB 17,250/mt and closed RMB 40/mt or 0.23% higher at RMB 17,320/mt on August 25th. The contract hit an intraday high of RMB 17355/mt supported by a 3% surge in Shanghai Composite Index. Market transactions slightly rose to 50,000 lots during the day, but were still less than half those in previous week. SMM expects the contract to struggle at RMB 17,300/mt in the short term given strong resistance at the 60-day moving average.

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