SHFE 1612 Aluminum Trades Lower (2016-9-28)

Published: Sep 28, 2016 17:35

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SHFE 1611 aluminum opened at RMB 12,515/mt overnight and dived to RMB 12,355/mt due to long selling, hurt by the negative OPEC meeting result.

SHANGHAI, Sep. 28 (SMM) – SHFE 1611 aluminum opened at RMB 12,515/mt overnight and dived to RMB 12,355/mt due to long selling, hurt by the negative OPEC meeting result, ending at RMB 12,415/mt.

On Wednesday, SHFE 1612 aluminum shifted to the most active contract and the contract grew to RMB 12,290/mt due to entering of longs after opening at RMB 12,210/mt, to end at RMB 12,260/mt. Trading volumes were down 14,192 lots to 61,994 lots, and positions were up 9,830 lots to 169,682. SHFE 1612 aluminum should fluctuate at current levels in the short term with fierce struggle between shorts and longs.

SHFE aluminum prices

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