SHFE Aluminum Rises on Short-Covering (Dec. 25, 2015)

SHANGHAI, Dec. 25 (SMM) – SHFE 1603 aluminum briefly dipped to RMB 10,835/mt after opening at RMB 10,880/mt on Friday. Rising offers in spot market lured longs in, pushing the most active contract up to an intraday high of RMB 10,910/mt. Finally, the contract ended up RMB 20/mt or 0.18% at RMB 10,885/mt. Trading volumes were down 32,622 to 118,000, and positions were down 800 to 247,000. SHFE 1603 aluminum will gather more strength.