SMM Brief on SHFE Aluminum Futures (2014-4-11)

Apr 11, 2014 16:05

On Thursday night, SHFE 1406 aluminum contract crept higher to RMB 13,245/mt after starting at RMB 13,175/mt, and finished the night session up RMB 70/mt at RMB 13,200/mt.

SHANGHAI, Apr. 11 (SMM) – On Thursday night, SHFE 1406 aluminum contract crept higher to RMB 13,245/mt after starting at RMB 13,175/mt, and finished the night session up RMB 70/mt at RMB 13,200/mt. Trading volumes totaled 21,158 lots, and positions dropped 294 lots to 125,874 lots. On Friday, the most active contract fell back below RMB 13,200/mt before bouncing back to RMB 13,290/mt, ending the daytime trading hours RMB 135/mt or 1.03% higher at RMB 13,265/mt. Trading volumes totaled 26,714 lots, and positions increased 1,288 lots to 127,162 lots. On the technical side, the light metal should challenge resistance at the 60-day moving average this coming week.

SHFE aluminum prices

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SMM Brief on SHFE Aluminum Futures (2014-4-11)

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