SHANGHAI, Feb. 25 (SMM) –SHFE 1504 aluminum contract shot up to RMB 13,145/mt early on Wednesday as bears withdrew, but immediately fell back to RMB 13,022/mt. The most active contract followed LME aluminum down further to RMB 12,975/mt in afternoon trade before ending at RMB 12,990/mt. Trading volumes fell 3,276 lots to 16,314 lots, with positions down 1,572 to 108,462. Trading was light as some investors have yet to return from the week-long holiday. April aluminum on the SHFE should test support at the 30-day moving average in the short term.
SHFE Aluminum Fluctuate Narrowly in Light Trading (Feb. 25, 2015)
SHFE 1504 aluminum contract shot up to RMB 13,145/mt early on Wednesday as bears withdrew, but immediately fell back to RMB 13,022/mt.
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