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Home / Metal News / SHFE Aluminum Rose on Rumors of Planned Production Cuts (Jul. 16, 2015)

SHFE Aluminum Rose on Rumors of Planned Production Cuts (Jul. 16, 2015)

Jul 16, 2015 16:12

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.

SHFE aluminum prices

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