SHFE Aluminum Refreshes Six-Year Low as Shorts Dominate (Sept. 29, 2015)-Shanghai Metals Market

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SHFE Aluminum Refreshes Six-Year Low as Shorts Dominate (Sept. 29, 2015)

Price Review & Forecast 05:41:35PM Sep 29, 2015 Source:SMM

SHANGHAI, Sept. 29 (SMM) –SHFE 1512 aluminum refreshed a six-year low of RMB 11,610/mt after opening at RMB 11,680/mt on Tuesday. The most active contract recovered some losses later as shorts exited, but still ended down RMB 90/mt or 0.77% at RMB 11,660/mt. Trading volumes were up 23,144 lots to 42,198 lots, and positions were up 1,736 lots to 150,000 lots. Shorts dominated before week-long holiday, and the contract is now moving near the lower end of the Bollinger Bands.  



 


SHFE Aluminum Refreshes Six-Year Low as Shorts Dominate (Sept. 29, 2015)

Price Review & Forecast 05:41:35PM Sep 29, 2015 Source:SMM

SHANGHAI, Sept. 29 (SMM) –SHFE 1512 aluminum refreshed a six-year low of RMB 11,610/mt after opening at RMB 11,680/mt on Tuesday. The most active contract recovered some losses later as shorts exited, but still ended down RMB 90/mt or 0.77% at RMB 11,660/mt. Trading volumes were up 23,144 lots to 42,198 lots, and positions were up 1,736 lots to 150,000 lots. Shorts dominated before week-long holiday, and the contract is now moving near the lower end of the Bollinger Bands.