SHANGHAI, May 13 (SMM) – On Thursday’s night trading, SHFE 1607 aluminum fell to RMB 11,855/mt after opening at RMB 12,080/mt, and finally ended at RMB 11,955/mt.
On Friday, SHFE 1607 aluminum dropped to RMB 11,875/mt after opening at RMB 11,950/mt. But the most active contract then rebounded to RMB 12,115/mt on long buying, and finally ended down RMB 75/mt at RMB 12,070/mt. Trading volumes were up 62,290 lots to 252,344 lots, and positions were up 2,922 to 256,480. SHFE 1607 aluminum will hover around RMB 12,000/mt in the near term.