SHFE Aluminum Trade in Tighter Range on Strong Caution (2016-1-26)

SHANGHAI, Jan. 26 (SMM) – SHFE 1603 aluminum opened at RMB 10,710/mt on Tuesday. The most active contract climbed to RMB 10,750/mt before falling back to RMB 10,705/mt, and finally ended at RMB 10,725/mt. Trading volumes were down 6,942 to 191,878, and positions were down 15,760 to 211,656. Trading volumes were down 107,000 lots to 84,460 lots, and positions were down 8,548 to 203,108. Positions of SHFE 1604 aluminum continued increasing sharply. SHFE aluminum will remain stuck between the 5-day, 10-day and 20-day moving averages in the short term.