[Al Price] SHFE Aluminum Down as Shorts Enter (Aug. 6, 2015)-Shanghai Metals Market

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[Al Price] SHFE Aluminum Down as Shorts Enter (Aug. 6, 2015)

Price Review & Forecast 04:36:44PM Aug 06, 2015 Source:SMM

SHANGHAI, Aug. 6 (SMM) – SHFE 1510 aluminum opened at RMB 12,075/mt on Thursday, and moved between RMB 12,040-12,080/mt in morning trade. However, the light metal fell sharply in afternoon trade due to massive entry of shorts, and ended down RMB 85/mt at RMB 12,025/mt. Trading volumes were up 7,576 lots to 25,772 lots, and positions were up 2,942 lots to 149,000 lots. Smelter production cuts are not enough to offset growing new capacity and falling consumption, leaving the market depressed. So, SHFE 1510 aluminum remains vulnerable at RMB 12,000/mt. 





[Al Price] SHFE Aluminum Down as Shorts Enter (Aug. 6, 2015)

Price Review & Forecast 04:36:44PM Aug 06, 2015 Source:SMM

SHANGHAI, Aug. 6 (SMM) – SHFE 1510 aluminum opened at RMB 12,075/mt on Thursday, and moved between RMB 12,040-12,080/mt in morning trade. However, the light metal fell sharply in afternoon trade due to massive entry of shorts, and ended down RMB 85/mt at RMB 12,025/mt. Trading volumes were up 7,576 lots to 25,772 lots, and positions were up 2,942 lots to 149,000 lots. Smelter production cuts are not enough to offset growing new capacity and falling consumption, leaving the market depressed. So, SHFE 1510 aluminum remains vulnerable at RMB 12,000/mt.