SHFE Aluminum Closes with Losses as Long Buyers Exit (Oct. 10, 2014)

SHANGHAI, Oct. 10 (SMM) – On Thursday night, SHFE 1412 aluminum contract started at RMB 13,870/mt. The most active contract touched session low of RMB 13,855/mt and session high of RMB 13,960/mt before finishing at RMB 13,870/mt. Trading volumes totaled 45,594 lots, with positions up 2,528 lots to 147,824 lots.  

 

On Friday, prices touched an intraday low of RMB 13,715/mt in the afternoon as investors cut long positions. The contract closed RMB 125/mt or 0.9% lower at RMB 13,735/mt. Trading volumes surged 16,602 lots to 116,263 lots, with positions down 4,256 lots to 141,040 lots. Technical indicators are negative.