SHFE 1607 Aluminum Ends Down RMB 100/mt (2016-5-24)

SHANGHAI, May 24 (SMM) – On Monday’s night trading, SHFE 1607 aluminum dropped to RMB 12,165/mt after opening at RMB 12,310/mt. But prices then returned to RMB 12,350/mt before ending at RMB 12,300/mt. 

On Tuesday, SHFE 1607 aluminum climbed to RMB 12,340/mt after starting at RMB 12,300/mt, but then fell back to RMB 12,260/mt. Finally, the most active contract ended down RMB 100/mt at RMB 12,270/mt. Trading volumes were down 57,370 lots to 171,758 lots, and positions were down 5,180 to 253,582. Positions of SHFE 1608 aluminum were up 3,508. SHFE 1607 aluminum is expected to move around the 10-day and 20-day moving averages in the near term.