SMM Brief on SHFE Aluminum Futures: Prices Pare Gains as Investors Exit to Avoid Risks (2013-4-26)-Shanghai Metals Market

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SMM Brief on SHFE Aluminum Futures: Prices Pare Gains as Investors Exit to Avoid Risks (2013-4-26)

SMM Insight 07:26:02PM Apr 26, 2013 Source:SMM

SHANGHAI, Apr. 26 (SMM) – SHFE 1307 aluminum contract started slightly higher at RMB 14,665/mt on Friday. The most active SHFE aluminum contract broke through RMB 14,700/mt in the morning before immediately falling back. Longs and shorts exited the market, leading to sharp declines in SHFE 1307 aluminum contracts. As a result, SHFE 1306 aluminum contract became the most active one again, which finally closed at RMB 14,630/mt, up RMB 25/mt or 0.17%. Positions decreased 1,890 lots to 56,358 lots. Investors closed positions before the three-day public holiday to avoid risks. The most active SHFE aluminum contract should remain stable at RMB 14,600/mt next week if LME aluminum is little changed during the holiday.
 

SMM Brief on SHFE Aluminum Futures: Prices Pare Gains as Investors Exit to Avoid Risks (2013-4-26)

SMM Insight 07:26:02PM Apr 26, 2013 Source:SMM

SHANGHAI, Apr. 26 (SMM) – SHFE 1307 aluminum contract started slightly higher at RMB 14,665/mt on Friday. The most active SHFE aluminum contract broke through RMB 14,700/mt in the morning before immediately falling back. Longs and shorts exited the market, leading to sharp declines in SHFE 1307 aluminum contracts. As a result, SHFE 1306 aluminum contract became the most active one again, which finally closed at RMB 14,630/mt, up RMB 25/mt or 0.17%. Positions decreased 1,890 lots to 56,358 lots. Investors closed positions before the three-day public holiday to avoid risks. The most active SHFE aluminum contract should remain stable at RMB 14,600/mt next week if LME aluminum is little changed during the holiday.