SMM Brief on SHFE Aluminum Futures: (2013-7-19)

SHANGHAI, Jul. 19 (SMM) – SHFE 1310 aluminum contract opened higher at RMB 14,315/mt on Friday thanks to rising LME aluminum prices overnight. The most active contract hovered near RMB 14,330/mt in the morning session, but dropped to RMB 14,310/mt in the afternoon as shorts dominated the market. SHFE aluminum for October delivery advanced to an intraday high of RMB 14,350/mt at the tail of the session as shorts took profits. Trading volumes contracted by 1,128 lots to 2,990 lots, but positions were up 216 lots to 66,782 lots.