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Home / Metal News / SHFE Aluminum Rises on China Stockpiling (Dec. 9, 2015)

SHFE Aluminum Rises on China Stockpiling (Dec. 9, 2015)

Dec 9, 2015 17:14

Source:SMM

SHFE 1602 aluminum rose to RMB 10,510/mt after opening higher at RMB 10,310/mt on Wednesday.

SHANGHAI, Dec. 9 (SMM) – SHFE 1602 aluminum rose to RMB 10,510/mt after opening higher at RMB 10,310/mt on Wednesday. Finally, the most active contract ended at RMB 10,455/mt. Trading volumes of SHFE 1602 aluminum increased to 444,832 lots, and its positions were up 9,462 to 265,412. Total positions of all SHFE aluminum contracts were up 18,642 to 797,108. Production cuts are starting to have an impact on market supply and aluminum ingot stockpiling in China are in the cards, meaning more price rise on the way.

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