SHFE Aluminum Little Affected by Poor Chinese Economic Results (May 13, 2015)

SHANGHAI, May 13 (SMM) – China’s April industrial output, fixed asset investment and retail sales data all missed forecasts, raising hopes for more stimulus. In this context, SHFE 1507 aluminum contract moved sideways for most of the day. The contract, though, rose to RMB 13,395/mt towards the close of the afternoon session before ending Wednesday at RMB 13,380/mt. Trading volumes totaled 26,398 lots, and positions were up 1,908 to 133,478. Prices might challenge resistance at RMB 13,400/mt.