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SHFE Aluminum Falls on Entry of Bears (Jun. 5, 2015)
Jun 5, 2015 18:11Source:SMM
On Friday, massive entry of shorts caused SHFE 1508 aluminum contract to drop to RMB 13,000/mt before ending at RMB 13,010/mt.
SHANGHAI, Jun. 5 (SMM) – On Friday, massive entry of shorts caused SHFE 1508 aluminum contract to drop to RMB 13,000/mt before ending at RMB 13,010/mt. Trading volumes totaled 36,360 lots, and positions were up 608 to 133,402. Prices are likely to fall below RMB 13,000/mt in the near term on growing bearishness.
SHFE aluminum prices
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