SHFE Aluminum Price Falls Again as Bearishness Lingers (Oct. 17, 2014)

SHANGHAI, Oct. 17 (SMM) – On Thursday night, SHFE 1412 aluminum contract dipped to RMB 13,555/mt after starting at RMB 13,605/mt, and finished the night session at RMB 13,645/mt. 

 

On Friday, the most active contract dropped to RMB 13,540/mt as pessimism dominated the market. But prices rebounded later to close at RMB 13,600/mt as short sellers withdrew to avoid risks before the weekend. Trading volumes totaled 69,884 lots, with positions down 624 lots to 130,216 lots. Prices will be vulnerable at RMB 13,500/mt.