SHFE 1608 Aluminum Falls Back After Initial Rise (2016-6-28)

SHANGHAI, Jun. 28 (SMM) – On Monday’s night trading, SHFE 1608 aluminum rose to RMB 12,390/mt after opening at RMB 12,340/mt, and ended at RMB 12,335/mt.  

On Tuesday, SHFE 1608 aluminum opened at RMB 12,345/mt. Long buying pushed prices up to RMB 12,480/mt, but prices then fell back as longs took profit, and finally ended at RMB 12,385/mt. Trading volumes were down 54,174 lots to 116,112 lots, and positions were down 2,128 to 179,588. Total positions of all SHFE aluminum contracts were up 1,794 to 506,860. SHFE 1608 aluminum will continue trading in current range.