SHFE 1609 Aluminum Ends with Gains (2016-7-13)

SHANGHAI, Jul. 13 (SMM) –On Tuesday’s night trading, SHFE 1609 aluminum fell to RMB 12,515/mt after opening at RMB 12,555/mt. But prices then followed LME aluminum up to RMB 12,650/mt and closed at RMB 12,570/mt. 

On Wednesday, the most active contract followed other base metals up to RMB 12,725/mt after opening at RMB 12,565/mt, and finally ended at RMB 12,655/mt. Trading volumes were up 70,984 lots to 257,226 lots, and positions were up 4,760 to 221,860. Total positions of all SHFE aluminum contract were up 22,630 to 577,604. Market speculative activity was rampant due to hopes for stimulus measures, but SHFE aluminum performed not as well as other metals.