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Home / Metal News / SHFE Aluminum Records 9-Day Losing Streak (Oct. 22, 2015)

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

iconOct 22, 2015 17:15
Source:SMM
SHFE 1601 aluminum opened at RMB 10,800/mt on Thursday.

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. 




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