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Home / Metal News / SHFE Aluminum Prices down 1.24% (2016-10-27)

SHFE Aluminum Prices down 1.24% (2016-10-27)

iconOct 27, 2016 17:58
Source:SMM
SHFE 1612 aluminum declined to intraday low at RMB 13,390/mt after opening and finally closed at RMB 13,530/mt, down RMB 170/mt or 1.24%.

SHANGHAI, Oct. 27 (SMM) – On Wednesday’s night trading, SHFE 1612 aluminum opened lower and then dropped to RMB 13,460/mt. The contract later rose stably but met resistance at RMB 13,570/mt.

On Thursday, SHFE 1612 aluminum declined to intraday low at RMB 13,390/mt after opening with positions opening by shorts and falling ferrous metals. During the afternoon trading, SHFE 1612 aluminum regained some lost ground, thanks to positions opening by longs, and rose above the moving average to RMB 13,600/mt. The contract finally closed at RMB 13,530/mt, down RMB 170/mt or 1.24%. Trading volumes were down 234,000 lots and positions were up 6,710.

SHFE 1612 aluminum is expected to remain downward momentum for the short term.

SHFE aluminum
LME aluminum
aluminum prices

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