SMM Brief on SHFE Aluminum Futures (2014-3-19)

SHANGHAI, Mar. 19 (SMM) – SHFE 1406 aluminum contract crept up to RMB 13,035/mt after starting Tuesday’s night session at RMB 12,990/mt, and closed the session at RMB 13,020/mt. Trading volumes during the night hours totaled 7,054 lots, and positions added 1,978 lots to 116,418 lots. The most active contract slid to RMB 12,880/mt on Wednesday before ending the session at RMB 12,900/mt. Trading volumes during the daytime hours totaled 22,612 lots, and positions were up 4,334 lots to 118,774 lots. Rampant bearish sentiment means prices will fall further.