SMM Brief on SHFE Aluminum Futures (2013-10-16)-Shanghai Metals Market

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SMM Brief on SHFE Aluminum Futures (2013-10-16)

Price Review & Forecast 04:57:17PM Oct 16, 2013 Source:SMM

SHANGHAI, Oct. 16 (SMM) – Falling SHFE 1311 aluminum contracts and LME aluminum caused SHFE 1312 aluminum contract, the most active one, to slide to an intraday low of RMB 14,295/mt after opening at RMB 14,350/mt on Wednesday. The light metal crept higher in the afternoon session, but still ended lower at RMB 14,315/mt, down for three days in a row. Trading volumes of December aluminum on the SHFE shrank 1,522 lots to 4,166 lots, and positions also contracted 722 lots to 65,554 lots. Trading volumes and positions of SHFE 1401 aluminum contracts were 6,762 lots and 57,128 lots, respectively. As such, SHFE aluminum for January delivery may shift to the most active contract soon.    


 

Key Words:  SHFE aluminum  

SMM Brief on SHFE Aluminum Futures (2013-10-16)

Price Review & Forecast 04:57:17PM Oct 16, 2013 Source:SMM

SHANGHAI, Oct. 16 (SMM) – Falling SHFE 1311 aluminum contracts and LME aluminum caused SHFE 1312 aluminum contract, the most active one, to slide to an intraday low of RMB 14,295/mt after opening at RMB 14,350/mt on Wednesday. The light metal crept higher in the afternoon session, but still ended lower at RMB 14,315/mt, down for three days in a row. Trading volumes of December aluminum on the SHFE shrank 1,522 lots to 4,166 lots, and positions also contracted 722 lots to 65,554 lots. Trading volumes and positions of SHFE 1401 aluminum contracts were 6,762 lots and 57,128 lots, respectively. As such, SHFE aluminum for January delivery may shift to the most active contract soon.    


 

Key Words:  SHFE aluminum