SHFE 1607 Aluminum Climbs above 5-Day Moving Average (2016-5-12)-Shanghai Metals Market

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SHFE 1607 Aluminum Climbs above 5-Day Moving Average (2016-5-12)

Price Review & Forecast 05:17:31PM May 12, 2016 Source:SMM

SHANGHAI, May 12 (SMM) – On Wednesday’s night trading, SHFE 1607 aluminum traded in a narrow range of RMB 12,050-12,160/mt after opening at RMB 12,145/mt, and finally ended at RMB 12,090/mt.   

On Thursday, SHFE 1607 aluminum jumped to RMB 12,245/mt after opening at RMB 12,085/mt. But the most active contract then gave back some gains, ending up RMB 170/mt at RMB 12,170/mt. Trading volumes were up 380 lots to 190,054 lots, and positions were up 1,032 to 253,558. SHFE 1607 aluminum has found solid support at the 5-day moving average and is set to hover at highs.  

   



SHFE 1607 Aluminum Climbs above 5-Day Moving Average (2016-5-12)

Price Review & Forecast 05:17:31PM May 12, 2016 Source:SMM

SHANGHAI, May 12 (SMM) – On Wednesday’s night trading, SHFE 1607 aluminum traded in a narrow range of RMB 12,050-12,160/mt after opening at RMB 12,145/mt, and finally ended at RMB 12,090/mt.   

On Thursday, SHFE 1607 aluminum jumped to RMB 12,245/mt after opening at RMB 12,085/mt. But the most active contract then gave back some gains, ending up RMB 170/mt at RMB 12,170/mt. Trading volumes were up 380 lots to 190,054 lots, and positions were up 1,032 to 253,558. SHFE 1607 aluminum has found solid support at the 5-day moving average and is set to hover at highs.