[Al Price] SHFE Aluminum Ends with Slim Gains (Aug. 11, 2015)-Shanghai Metals Market

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[Al Price] SHFE Aluminum Ends with Slim Gains (Aug. 11, 2015)

Price Review & Forecast 03:59:54PM Aug 11, 2015 Source:SMM

SHANGHAI, Aug. 11 (SMM) – SHFE 1510 aluminum fluctuated between the 5-day and 10-day moving averages after opening at RMB 12,080/mt on Tuesday. The contract touched a session high of RMB 12,110/mt, but then fell back to RMB 12,010/mt as Chinese yuan softened against the US dollar considerably after the PBOC announced notice on RMB exchange rate policy. Finally, SHFE 1510 aluminum ended up RMB 75/mt or 0.63% at RMB 12,040/mt. Positions were down 6,170 lots to 147,000 lots. The contract should continue encountering resistance at the 10-day moving average in the short term.  







[Al Price] SHFE Aluminum Ends with Slim Gains (Aug. 11, 2015)

Price Review & Forecast 03:59:54PM Aug 11, 2015 Source:SMM

SHANGHAI, Aug. 11 (SMM) – SHFE 1510 aluminum fluctuated between the 5-day and 10-day moving averages after opening at RMB 12,080/mt on Tuesday. The contract touched a session high of RMB 12,110/mt, but then fell back to RMB 12,010/mt as Chinese yuan softened against the US dollar considerably after the PBOC announced notice on RMB exchange rate policy. Finally, SHFE 1510 aluminum ended up RMB 75/mt or 0.63% at RMB 12,040/mt. Positions were down 6,170 lots to 147,000 lots. The contract should continue encountering resistance at the 10-day moving average in the short term.