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SHFE Aluminum Rose on Rumors of Planned Production Cuts (Jul. 16, 2015)
Jul 16,2015 16:12CST
price review forecast
Source:SMM
SHFE 1509 aluminum contract fell slightly on Thursday morning, but jumped above the 20-day moving average to RMB 12,655/mt in the afternoon on rumors of planned production cuts at smelters.

SHANGHAI, Jul. 16 (SMM) –SHFE 1509 aluminum contract fell slightly on Thursday morning, but jumped above the 20-day moving average to RMB 12,655/mt in the afternoon on rumors of planned production cuts at smelters. The contract ended the day at RMB 12,545/mt. Trading volumes totaled 54,318 lots, and positions were down 5,264 lots to 117,958 lots. The price rise was accompanied with falling positions, implying that longs remained cautious about entering. 





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