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SMM Brief on SHFE Aluminum Futures: Prices Sink as Bearish Sentiment Dominates (2013-7-5)
Jul 5,2013 17:19CST
price review forecast
Source:SMM
SHFE 1310 aluminum contract started flat with yesterday at RMB 14,335/mt on Friday.

SHANGHAI, Jul. 5 (SMM) – SHFE 1310 aluminum contract started flat with yesterday at RMB 14,335/mt on Friday. Shorts dominated the market, sending the most actively traded SHFE aluminum contract down to RMB 14,280/mt. Finally, SHFE aluminum for October delivery ended the day at RMB 14,300/mt, down RMB 30/mt or 0.21%. Trading volumes contracted 466 lots to 13,704 lots, but positions increased 640 lots to 209,688 lots. Worries over possible scaling back of QE3 by the US Federal Reserve later this year and strengthening US dollar against the euro dampened investor sentiment. SHFE 1310 aluminum contract is expected struggle at RMB 14,300/mt in the coming week.  
 

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