SHFE Aluminum Prices Up as Bullishness Dominates (Aug. 21, 2014)-Shanghai Metals Market

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SHFE Aluminum Prices Up as Bullishness Dominates (Aug. 21, 2014)

Price Review & Forecast 05:30:22PM Aug 21, 2014 Source:SMM

SHANGHAI, Aug. 21 (SMM) – On Wednesday night, SHFE 1410 aluminum contract started at RMB 14,220/mt before hitting the highest level since November 2013 at RMB 14,365/mt. The most active contract finished the night session at RMB 14,355/mt. Trading volumes totaled 87,572 lots, with positions up 6,634 lots to 232,212 lots. 

On Thursday, the most active contract fell to RMB 14,265/mt as HSBC’s flash China manufacturing PMI slipped to 50.3 in August, and ended the day at RMB 14,345/mt. Trading volumes totaled 47,772 lots, with positions down 1,200 lots to 131,012 lots. Prices are expected to gather more steam since technical indicators are pointing upward. 
 
 
 
 
 
 
Key Words:  SHFE aluminum prices  

SHFE Aluminum Prices Up as Bullishness Dominates (Aug. 21, 2014)

Price Review & Forecast 05:30:22PM Aug 21, 2014 Source:SMM

SHANGHAI, Aug. 21 (SMM) – On Wednesday night, SHFE 1410 aluminum contract started at RMB 14,220/mt before hitting the highest level since November 2013 at RMB 14,365/mt. The most active contract finished the night session at RMB 14,355/mt. Trading volumes totaled 87,572 lots, with positions up 6,634 lots to 232,212 lots. 

On Thursday, the most active contract fell to RMB 14,265/mt as HSBC’s flash China manufacturing PMI slipped to 50.3 in August, and ended the day at RMB 14,345/mt. Trading volumes totaled 47,772 lots, with positions down 1,200 lots to 131,012 lots. Prices are expected to gather more steam since technical indicators are pointing upward. 
 
 
 
 
 
 
Key Words:  SHFE aluminum prices