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SMM Brief Review - 2011/9/21 SHFE Aluminum Futures
Sep 21,2011 17:00CST
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Source:SMM
Most active SHFE 1111 aluminum contract closed at RMB 17,290/mt, up RMB 115/mt or 0.67% from previous trading day.

SHANGHAI, Sept. 21 (SMM) – Most active SHFE 1111 aluminum contract opened lower at RMB 17,155/mt today, and rebounded later with climbing Shanghai stock prices to broke through the 5-day moving average. The contract remained strong in the afternoon, and finally closed at RMB 17,290/mt, up RMB 115/mt or 0.67% from previous trading day. Positions of the contract decreased 5,576 lots to 103,036 lots. Position transfer to SHFE 1112 aluminum contract continued today, and the most active contract may be changed into SHFE 1112 if market sentiment keeps improving. Though SHFE aluminum prices rebounded today supported by strengthening stock and other base metals prices, investors remained cautious and were waiting for direction from the US Fed interest rate meeting.

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