SHFE Aluminum Hit Daily Downside Limit (Jul. 8, 2015)

SHANGHAI, Jul. 8 (SMM) –On Tuesday night, commodity market was hard hit across the board, dampening market sentiment.  SHFE 1509 aluminum fell to RMB 12,025/mt after opening at RMB 12,405/mt. The contract ended the night session at RMB 12,235/mt. 

On Wednesday, SHFE 1509 aluminum contract hit its daily downside limit, and rebounded slightly at the tail of the day before ending at RMB 12,045/mt. Trading volumes totaled 178,144 lots, and positions were down 1,942 lots to 133,002 lots. With panic sentiment spreading, prices might head for more losses.