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Home / Metal News / SHFE 1610 Aluminum Falls as Longs Exit (2016-8-22)

SHFE 1610 Aluminum Falls as Longs Exit (2016-8-22)

Aug 22, 2016 17:08

Source:SMM

Last Friday’s night trading, profit-taking by longs sent SHFE 1610 aluminum down to RMB 12,540/mt after opening at RMB 12,600/mt.

SHANGHAI, Aug. 22 (SMM) –Last Friday’s night trading, profit-taking by longs sent SHFE 1610 aluminum down to RMB 12,540/mt after opening at RMB 12,600/mt. Prices then rebounded to RMB 12,625/mt, ending at RMB 12,585/mt.

On Monday, SHFE 1610 aluminum moved down after opening at RMB 12,585/mt, and closed at RMB 12,375/mt. Trading volumes were up 27,348 lots to 195,852 lots, and positions were down 38,456 to 206,244. The most active contract will test support at the 40-day moving average due to exit of longs.

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