SHFE Aluminum Extends Gains on Short Covering (Dec. 30, 2015)

SHANGHAI, Dec. 30 (SMM) –SHFE 1605 aluminum opened at RMB 10,810/mt on Wednesday. The most active contract hit a low of RMB 10,730/mt as shorts jumped in, and finally ended at RMB 10,785/mt, with trading volumes down 7,210 to 230,546. Its positions were down 406 to 247,594. The contract will face selloffs at RMB 10,900/mt mark, and should consolidate around the 5-day moving average in the near term.