SHANGHAI, May 20 (SMM) – On Thursday’s night trading, SHFE 1607 aluminum dipped to RMB 12,265/mt after opening at RMB 12,285/mt, but then rallied to end at RMB 12,380/mt.
On Friday, exit of longs sent SHFE 1607 aluminum down to RMB 12,340/mt after opening at RMB 12,380/mt. But short covering allowed the most active contract to return to RMB 12,445/mt later, and finally ended up RMB 105/mt at RMB 12,435/mt. Trading volumes were down 27,516 lots to 154,288 lots, and positions were up 422 to 266,834. Positions of SHFE 1608 aluminum were up 6,474.