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Home / Metal News / SHFE 1610 Aluminum Rebounds from Lows (2016-8-11)

SHFE 1610 Aluminum Rebounds from Lows (2016-8-11)

Aug 11, 2016 17:07

Source:SMM

On Wednesday’s night trading, SHFE 1610 aluminum opened at RMB 12,485/mt and fell to RMB 12,420/mt.

SHANGHAI, Aug. 11 (SMM) –On Wednesday’s night trading, SHFE 1610 aluminum opened at RMB 12,485/mt and fell to RMB 12,420/mt. Later dropped further to RMB 12,360/mt before finding support at the 5-day moving average, to end at RMB 12,385/mt.

On Thursday, SHFE 1610 aluminum opened at RMB 12,385/mt and slid to RMB 12,355/mt/ The price hovered around RMB 12,400/mt before closing at RMB 12,390/mt. Trading volumes were down 19,504 lots to 103,748 lots, and positions were down 8,192 to 202,964. SHFE 1610 aluminum will continue seeking direction.

SHFE aluminum prices

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On Wednesday’s night trading, SHFE 1611 aluminum opened at RMB 12,025/mt, and fell below RMB 12,000/mt with shorts gathering strength, and ended at RMB 11,925/mt.

Sep 8, 2016 17:11

SMM Comments

LME Aluminum to Swing Widely (2016-9-8)

LME aluminum will move in a wide range of USD 1,580-1,610/mt on Thursday.

Sep 8, 2016 09:38

SMM Comments

LME Aluminum to Consolidate at Highs Next Week, SMM Expects

Aluminum prices on the LME and SHFE will consolidate at current highs while searching for direction next week, SMM foresees.

Aug 12, 2016 15:30

SMM Insight

LME Aluminum to Find Rising Strength from SHFE Aluminum, SMM Expects

LME aluminum will find rising strength from SHFE aluminum this coming week, SMM predicts.

Apr 30, 2016 10:07

SMM Insight

LME Aluminum to See Range-bound Trading (2016-3-21)

LME aluminum is expected to be range-bound at USD 1,510-1,540/mt on Monday.

Mar 21, 2016 09:50

SMM Comments

Spot Premiums Expected in China Aluminum Market (2016-1-22)

In China’s spot aluminum market, spot premiums of RMB 80-120/mt are expected over SHFE 1602 contract on Friday.

Jan 22, 2016 09:30

SMM Comments

LME Aluminum to Meet Strong Resistance (2016-1-18)

LME aluminum is expected to meet resistance at the 40-day moving average and move at USD 1,458-1,483/mt on Monday

Jan 18, 2016 09:53

SMM Comments

SHFE Aluminum to Return Above RMB 10,000/mt on Output Cut News (2015-11-26)

SHFE 1602 aluminum, the most active one, should rise to RMB 9,950-10,150/mt on Thursday, driven by output cut news.

Nov 26, 2015 09:37

SMM Comments

SHFE Aluminum to Rise on Output Cut News (2015-11-25)

SHFE 1602 aluminum, the most active one, should rise to RMB 9,770-9,900/mt on Wednesday as rumor says that more Chinese smelters will cut output.

Nov 25, 2015 09:24

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