SHFE 1611 Aluminum Swings Widely (2016-10-12) -Shanghai Metals Market

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SHFE 1611 Aluminum Swings Widely (2016-10-12)

Price Review & Forecast 05:24:03PM Oct 12, 2016 Source:SMM

SHANGHAI, Oct. 12 (SMM) –On Tuesday’s night trading, SHFE 1611 aluminum fell to RMB 12,615/mt on short selling triggered by plunging crude oil prices after opening at RMB 12,685/mt. But prices then rallied to RMB 12,705/mt, ending at RMB 12,685/mt. 

On Wednesday, SHFE 1611 aluminum opened at RMB 12,695/mt, and sank to RMB 12,540/mt on short selling before ending at RMB 12,665/mt. Trading volumes were up to 170,886 lots, and positions were up 7,500 lots to 204,136. Positions of all SHFE aluminum contracts were up 23,710 lots to 653,628 lots. SHFE 1611 aluminum will hover at highs in the short term.  


 

SHFE 1611 Aluminum Swings Widely (2016-10-12)

Price Review & Forecast 05:24:03PM Oct 12, 2016 Source:SMM

SHANGHAI, Oct. 12 (SMM) –On Tuesday’s night trading, SHFE 1611 aluminum fell to RMB 12,615/mt on short selling triggered by plunging crude oil prices after opening at RMB 12,685/mt. But prices then rallied to RMB 12,705/mt, ending at RMB 12,685/mt. 

On Wednesday, SHFE 1611 aluminum opened at RMB 12,695/mt, and sank to RMB 12,540/mt on short selling before ending at RMB 12,665/mt. Trading volumes were up to 170,886 lots, and positions were up 7,500 lots to 204,136. Positions of all SHFE aluminum contracts were up 23,710 lots to 653,628 lots. SHFE 1611 aluminum will hover at highs in the short term.