SHFE Aluminum up with Strong Long Momentum (2016-8-16)

SHANGHAI, Aug. 16 (SMM) – SHFE 1610 aluminum opened high at RMB 12,335/mt overnight, and then dipped to RMB 12,310/mt with leaving of longs. As a large number of longs entered the market with strengthening LME aluminum, SHFE 1610 aluminum climbed to RMB 12,435/mt and closed at RMB 12,415/mt.

SHFE 1610 aluminum opened at RMB 12415/mt Tuesday morning, and then fell to RMB 12,360/mt. In the afternoon, SHFE 1610 aluminum rolled back some gains and closed at RMB 12,430/mt. Trading volumes decreased 3,764 to 115,670 lots, and positions increased 12,880 to 211,308.