SMM Brief on SHFE Aluminum Futures: Prices Down after a High Opening on Thin Trading Activity (2013-3-25)

SHANGHAI, Mar. 25 (SMM) – SHFE 1306 aluminum contract prices opened slightly higher at RMB 14,750/mt on Monday. The contract gave back some gains in early morning session, and later stagnated near RMB 14,735/mt. Shorts increased slightly at the tail of trading. Finally, the most active SHFE aluminum contract closed at RMB 14,725/mt, up RMB 25/mt or 0.17%. Positions increased 754 lots to 93,912 lots, while trading volumes were a mere over 6,000 lots on thin trading activity. SHFE aluminum for June delivery should fluctuate between the 5-day and 10-day moving average in the near term.