SHFE Aluminum Hits New Low as Bearishness Rules (Aug. 24, 2015)
SHANGHAI, Aug. 24 (SMM) – SHFE 1510 aluminum took a freefall to RMB 11,805/mt after opening at RMB 11,950/mt on Monday. Finally, the most active contract ended down RMB 160/mt or 1.33% at RMB 11,830/mt. Trading volumes were up 29,996 lots to 55,470 lots, and positions were down 4,672 lots to 127,000 lots. LME aluminum tumbled, the major drag on SHFE aluminum. Besides, poor consumption was also blamed for lower prices.
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