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SMM Brief Review - 2011/10/25 SHFE Aluminum Futures
Oct 25,2011 16:36CST
smm insight
Source:SMM
The most active SHFE 1112 aluminum contract closed at RMB 16,375/mt, down RMB 170/mt or 1.03% from the previous trading day.

SHANGHAI, Oct. 25 (SMM) – The most active SHFE 1112 aluminum contract opened higher at RMB 16,680/mt today, and fluctuated within a wide range later despite a strong rebound in Chinese stock prices. The contract finally closed at RMB 16,375/mt, down RMB 170/mt or 1.03% from the previous trading day. Highest and lowest prices during the day were RMB 16,710/mt and RMB 16,320/mt. Positions of the contract plummeted by 9,814 lots to 62,352 lots, only around 1,000 lots more than the SHFE 1201 contract which may become the most active one tomorrow. As price gaps between different contracts narrowed, profit-taking opportunities also decreased. SMM expects the most active SHFE aluminum contract to test support at RMB 16,250/mt in the short term as cautiousness prevailed among investors.

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