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SHFE Aluminum Rebounds After Initial Fall (Dec. 23, 2015)
Dec 23,2015 17:22
CSTprice review forecast
Source:SMM
SHFE 1603 aluminum dipped to RMB 10,735/mt after opening at RMB 10,795/mt on Wednesday, due to short selling.
SHANGHAI, Dec. 23 (SMM) – SHFE 1603 aluminum dipped to RMB 10,735/mt after opening at RMB 10,795/mt on Wednesday, due to short selling. But the most active contract then rallied to RMB 10,900/mt, because of short-covering, and ended the day at RMB 10,865/mt. Positions of SHFE 1603 aluminum were down 2,518 to 199,996, and total positions of all SHFE aluminum contracts were up 7,228 to 771,860. Tight supply in domestic spot market allowed SHFE aluminum to hold firm.
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