SHFE 1606 Aluminum Struggles around RMB 12,000/mt (2016-4-18)

Published: Apr 18, 2016 18:29

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SHFE 1606 aluminum opened at RMB 11,935/mt on Monday.

SHANGHAI, Apr. 18 (SMM) – SHFE 1606 aluminum opened at RMB 11,935/mt on Monday. Long buying pushed prices up to RMB 12,010/mt, but prices then fell back on short selling at highs. Finally, the most active contract ended down RMB 5/mt at RMB 11,955/mt. Trading volumes were up 8,560 lots to 140,130 lots, and positions were down 2,170 to 276,302. SHFE aluminum was little affected by tumbling crude oil, supported by strong market fundamentals.

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