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SHFE Aluminum Falls on Strong Bearish Sentiment (Apr. 14, 2015)
Apr 14, 2015 16:28Source:SMM
On Monday night, SHFE 1506 aluminum contract dropped to RMB 13,070/mt after starting at RMB 13,155/mt, and closed the night session at RMB 13,115/mt.
SHANGHAI, Apr. 14 (SMM) –On Monday night, SHFE 1506 aluminum contract dropped to RMB 13,070/mt after starting at RMB 13,155/mt, and closed the night session at RMB 13,115/mt. Trading volumes totaled 9,656 lots, with positions down 1,512 to 115,634.
On Tuesday, the most active SHFE aluminum contract followed other base metals down to RMB 13,000/mt. Some bears exited at such low price, allowing the contract to bounce back to RMB 13,080/mt. Finally, the light metal ended at RMB 13,020/mt. Trading volumes totaled 67,982 lots, with positions up 1,926 to 119,072. The contract is expected to continue testing support at RMB 13,000/mt in the short term.
SHFE aluminum prices
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