SMM Brief on SHFE Aluminum Futures (2013-4-19)-Shanghai Metals Market

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SMM Brief on SHFE Aluminum Futures (2013-4-19)

SMM Insight 06:20:56PM Apr 19, 2013 Source:SMM

SHANGHAI, Apr. 19 (SMM) – SHFE 1306 aluminum contract opened higher at RMB 14,575/mt on Friday, but pared some gains in the morning session. In the afternoon, market sentiment improved as SHFE copper stopped falling. The most active SHFE aluminum contract rose to test resistance at RMB 14,600/mt on short-covering. Finally, SHFE aluminum for June delivery closed at RMB 14,595/mt, up RMB 145/mt or 1.00%. Positions decreased 1,596 lots to 68,448 lots. The most-traded SHFE aluminum contract should move within RMB 14,500-14,600/mt next week. 
 

SMM Brief on SHFE Aluminum Futures (2013-4-19)

SMM Insight 06:20:56PM Apr 19, 2013 Source:SMM

SHANGHAI, Apr. 19 (SMM) – SHFE 1306 aluminum contract opened higher at RMB 14,575/mt on Friday, but pared some gains in the morning session. In the afternoon, market sentiment improved as SHFE copper stopped falling. The most active SHFE aluminum contract rose to test resistance at RMB 14,600/mt on short-covering. Finally, SHFE aluminum for June delivery closed at RMB 14,595/mt, up RMB 145/mt or 1.00%. Positions decreased 1,596 lots to 68,448 lots. The most-traded SHFE aluminum contract should move within RMB 14,500-14,600/mt next week.