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SMM Brief on SHFE Aluminum Futures (2013-11-11)
Nov 11, 2013 16:22Source:SMM
Better-than-expected US non-farm payrolls helped January aluminum on the Shanghai Futures Exchange (SHFE), the most active one, open higher at RMB 14,325/mt on Monday.
SHANGHAI, Nov. 11 (SMM) – Better-than-expected US non-farm payrolls helped January aluminum on the Shanghai Futures Exchange (SHFE), the most active one, open higher at RMB 14,325/mt on Monday. The light metal, however, briefly dipped to RMB 14,290/mt in early morning session and met resistance at the 60-day moving average as worries over QE3-tapering remained. SHFE 1401 aluminum contract closed the day at RMB 14,305/mt. Trading volumes increased 1,038 lots to 3,424 lots, and positions also added 528 lots to 43,134 lots.
SHFE aluminum
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