SHFE Aluminum Range-Bound, Despite Positive Economic Data (Oct. 28, 2014)

Oct 28, 2014 17:27

SHFE 1501 aluminum contract, the most active one, fell to RMB 13,790/mt on Tuesday.

SHANGHAI, Oct. 28 (SMM) –SHFE 1501 aluminum contract, the most active one, fell to RMB 13,790/mt on Tuesday, despite positive economic data, which showed profits at large-scale industrial enterprises in China rose 0.4% YoY in September. Finally, the contract ended at RMB 13,825/mt. Trading volumes totaled 44,412 lots, with positions up 1,408 lots to 137,358 lots. Prices are expected to continue fluctuating between the 10-day and 20-day moving averages for the short term as investors will remain cautious.

SHFE aluminum prices

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SHFE Aluminum Range-Bound, Despite Positive Economic Data (Oct. 28, 2014)

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