SHFE Aluminum Range-Bound on Strong Caution (Dec. 17, 2015)

SHANGHAI, Dec. 17 (SMM) – SHFE 1602 aluminum climbed to RMB 10,625/mt after opening at RMB 10,590/mt on Thursday. But the most active contract then pulled back to RMB 10,505/mt, due to profit-taking by longs, ending the day at RMB 10,540/mt. Positions of SHFE 1602 aluminum were down 6,884 to 219,392, and positions of SHFE 1603 aluminum were up 7,990 to 234,994. The most active contract should continue struggling around RMB 10,500/mt in the near term.