SHFE Aluminum Falls for Three Consecutive Days (Feb. 11, 2015)

SHANGHAI, Feb. 11 (SMM) –On Tuesday night, SHFE 1504 aluminum contract dropped below the 10-day moving average after starting at RMB 13,125/mt, and finished the night session at RMB 13,060/mt. Trading volumes totaled 11,664 lots, with positions down 424 to 118,420.

  

On Wednesday, the most active contract climbed to 13,100/mt, but then fell back to RMB 13,030/mt before ending at RMB 13,035/mt. Trading volumes totaled 33,430 lots, with positions down 1,350 to 117,494. Technical indicator suggests that more losses may be on the way.