SHFE Aluminum Ends with Losses, Positions of Distant Month Contracts Up (Oct. 9, 2014)

Oct 9, 2014 17:18

SHFE 1412 aluminum contract fell to RMB 13,760/mt on Wednesday night, but bounced back to RMB 13,910/mt on Thursday, driven by LME aluminum.

SHANGHAI, Oct. 9 (SMM) –SHFE 1412 aluminum contract fell to RMB 13,760/mt on Wednesday night, but bounced back to RMB 13,910/mt on Thursday, driven by LME aluminum. Prices, however, still closed RMB 115/mt or 0.82% lower at RMB 13,885/mt. Trading volumes surged 65,816 lots to 99,762 lots, with positions down 910 lots to 145,296 lots. Prices may move higher during today’s night session. Positions of SHFE 1501 and 1502 contracts increased by 7,952 lots and 2,980 lots, respectively, indicating that investors are not bearish toward distant month contracts.

SHFE aluminum prices

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SHFE Aluminum Ends with Losses, Positions of Distant Month Contracts Up (Oct. 9, 2014)

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