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Home / Metal News / SMM Brief on SHFE Aluminum Futures: Technical Resistance Remains Strong on Limited Buying (2013-7-25)

SMM Brief on SHFE Aluminum Futures: Technical Resistance Remains Strong on Limited Buying (2013-7-25)

iconJul 25, 2013 16:33
Source:SMM
SHFE 1310 aluminum contract opened flat at RMB 14,375/mt on Thursday.

SHANGHAI, Jul. 25 (SMM) – SHFE 1310 aluminum contract opened flat at RMB 14,375/mt on Thursday. The most active contract only inched up in the afternoon session, and closed RMB 25/mt or 0.17% higher at RMB 14,400/mt. Positions increased by 220 lots to 64,920 lots, and trading volumes were up 2,234 lots to 4,804 lots. Judging from technical indicator, SHFE three-month aluminum contract will continue to meet resistance at RMB 14,400/mt. 
 

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