SHFE 1609 Aluminum Falls Back After Initial Rise (2016-7-6)

SHANGHAI, Jul. 6 (SMM) –On Tuesday’s night trading, SHFE 1609 aluminum rose to RMB 12,550/mt after opening at RMB 12,480/mt. But prices then fell back to RMB 12,310/mt and closed at RMB 12,380/mt. 

On Wednesday, the most active contract climbed to RMB 12,550/mt after opening at RMB 12,375/mt, and finally ended at RMB 12,480/mt. Trading volumes were up 24,902 lots to 268,018 lots, and positions were up 5,448 to 190,086. The contract will trade in a wide range in the short term