Metals News
SMM Brief on SHFE Aluminum Futures: Prices Pull back as Longs Take Profits at Highs (2013-4-12)
smm insight
05:03PM
Apr 12,2013
Source:SMM

SHANGHAI, Apr. 12 (SMM) – SHFE 1306 aluminum contract opened slightly higher at RMB 14,750/mt on Friday. Later, the most active aluminum contract sank to RMB 14,700/mt as longs took profits at highs, and hovered near RMB 14,720/mt in the afternoon. Finally, SHFE aluminum for June delivery shed RMB 15/mt or 0.10% at RMB 14,715/mt. Positions shrank 2,232 lots to 80,932 lots. The downside space of the most active SHFE aluminum contract was limited, though it failed to break though the 30-day moving average. The most-traded SHFE aluminum contract should continue to test support at RMB 14,700/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