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Home / Metal News / SHFE Aluminum Falls as Bears Enter (May 27, 2015)

SHFE Aluminum Falls as Bears Enter (May 27, 2015)

May 27, 2015 16:37

Source:SMM

Profit at large Chinese industrial enterprises grew 2.6% in April, but this positive data offered little upward momentum to aluminum prices.

SHANGHAI, May 27 (SMM) – Profit at large Chinese industrial enterprises grew 2.6% in April, but this positive data offered little upward momentum to aluminum prices. SHFE 1508 aluminum contract inched up on Wednesday morning, but fell below RMB 13,200/mt in the afternoon to RMB 13,185/mt. Finally, the contract ended at RMB 13,195/mt. Trading volumes totaled 23,774 lots, and positions were up 5,678 to 115,126. More losses are expected ahead due to entry of shorts.

SHFE aluminum prices

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SHFE Aluminum Falls as Bears Enter (May 27, 2015)

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