SHFE Aluminum Rises on Improving Market Sentiment (Dec. 24, 2015)

SHANGHAI, Dec. 24 (SMM) – SHFE 1603 aluminum rose to RMB 10,960/mt after opening at RMB 10,890/mt on Thursday, due to short covering. But the most active contract then fell back to RMB 10,860/mt as longs exited, and ended the day at RMB 10,905/mt, with trading volumes down 8,598 lots to 190,964 lots. Positions of SHFE 1603 aluminum were down 2,590 to 197,406, and total positions of all SHFE aluminum contracts were up 15,082 to 786,942. SHFE 1603 aluminum has found solid support at the 5-day moving average, and looks set to rise further.