SHFE Aluminum Records 9-Day Losing Streak (Oct. 22, 2015)

SHANGHAI, Oct. 22 (SMM) –SHFE 1601 aluminum opened at RMB 10,800/mt on Thursday. The contract suffered selloffs after it climbed to RMB 10,855/mt, hitting a new near 7-year low of RMB 10,700/mt. Longs went bargain hunting later in the day, pushing the contract up slightly. However, it still ended down RMB 105/mt or 0.97% at RMB 10,720/mt. Trading volumes were up 6,214 lots to 115,000 lots, and positions were up 14,410 to 163,000. Moving averages are pointing downward, and KDJ remains in oversold territory.