SHFE Aluminum Hits 3-Week High (Sept. 9, 2015)

SHANGHAI, Sept. 9 (SMM) – SHFE 1511 aluminum opened at RMB 12,015/mt on Wednesday. The most active contract dipped to RMB 11,990/mt, but then quickly bounced back to RMB 12,065/mt. Finally, the light metal ended up RMB 145/mt or 1.22% at RMB 12,060/mt. Trading volumes were up 30,190 lots to 54,768 lots, and positions were up 2,534 lots to 118,000 lots. Rising Chinese A-share market boosted market sentiment, allowing SHFE aluminum to move higher. The contract might challenge resistance at RMB 12,150/mt in the near term.