SHANGHAI, May 16 (SMM) – On last Friday’s night trading, SHFE 1607 aluminum staged a “N” movement, opening at RMB 12,070/mt and ending at RMB 12,120/mt.
On Monday, SHFE 1607 aluminum dipped to RMB 12,050/mt after opening at RMB 12,110/mt. But the most active contract then rebounded to RMB 12,285/mt before ending up RMB 210/mt at RMB 12,225/mt. Trading volumes were down 40,632 lots to 211,712 lots, and positions were up 14,048 to 270,528. SHFE 1607 aluminum is on track for more gains.
SHFE 1605 aluminum contract, whose delivery deadline is today, closed up RMB 235/mt at RMB 12,365/mt, with settlement price at RMB 12,320/mt. Positions were 27,170 lots, with delivery volume at 67,925 mt.