Metals News
SMM Brief on SHFE Aluminum Futures: Prices Stage Strong Rally on Short-Covering (2013-4-8)
smm insight
03:47PM
Apr 8,2013
Source:SMM

SHANGHAI, Apr. 8 (SMM) – SHFE 1306 aluminum contract found its low at RMB 14,555/mt after starting the day slightly higher at RMB 14,570/mt on Monday. In the afternoon, the most active aluminum contract broke through resistance at RMB 14,600/mt on short-covering, and finally closed at an intraday high of RMB 14,650/mt, up RMB 95/mt or 0.65%. Positions shrank 1,514 lots to 88,878 lots. Longs are cautious about buying, so SHFE aluminum for June delivery is expected to test support at RMB 14,600/mt. 
 

latest SHFE aluminum prices
For queries, please contact Frank LIU at liuxiaolei@smm.cn
For more information on how to access our research reports, please email service.en@smm.cn
Related Price

No Data