SMM Brief on SHFE Aluminum Futures (2013-11-13)

SHANGHAI, Nov. 13 (SMM) – January aluminum on the Shanghai Futures Exchange (SHFE), the most active one, opened at RMB 14,250/mt on Wednesday. Chinese A-share lost 40.67 points to 2,185.65 points, sending the light metal down to RMB 14,205/mt in the afternoon. SHFE 1401 aluminum contract ended RMB 30/mt lower at RMB 14,225/mt, down for a third straight day. Falling prices prompted some investors to close short positions. Trading volumes increased 2,938 lots to 8,496 lots, but positions contracted 314 lots to 42,650 lots. SHFE aluminum for January delivery may lose support at RMB 14,200/mt.