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SHFE Aluminum Under Downward Pressure from Profit-Booking (Aug. 5, 2014)
Aug 5, 2014 16:43CST
Source:SMM
On Monday night, SHFE 1410 aluminum contract rose to RMB 14,170/mt after starting higher at RMB 14,075/mt, and finished the night session at RMB 14,155/mt.
SHANGHAI, Aug. 5 (SMM) – On Monday night, SHFE 1410 aluminum contract rose to RMB 14,170/mt after starting higher at RMB 14,075/mt, and finished the night session at RMB 14,155/mt. Trading volumes totaled 55,408 lots, with positions up 4,402 lots to 163,702 lots. 
 
On Tuesday, the most active contract lost steam in the absence of positive news, ending the day at RMB 14,110/mt. Trading volumes totaled 41,782 lots, with positions down 6,740 lots to 156,962 lots. Investors may take profits at highs, leaving the light metal vulnerable to losses.
 
 
 
 
SHFE aluminum prices

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