SHFE Aluminum Finishes Lower (2016-12-16)

Dec 16, 2016 19:46

SHFE 1702 aluminum opened at RMB 13,020/mt and finally closed at RMB 12,915/mt.

SHANGHAI, Dec. 16 (SMM) – On Friday, SHFE 1702 aluminum opened at RMB 13,020/mt and then dipped as shorts strengthened. Spot aluminum was at premiums against SHFE 1701 aluminum with traders reducing supply in China’s market. SHFE 1702 aluminum rallied to RMB 13,075/mt. During the afternoon trading, base metals dropped across the board. SHFE 1702 aluminum dived to RMB 12,885/mt with exit of longs and finally closed at RMB 12,915/mt. Trading volumes reduced 132,000 to 232,046 lots and positions rose 6,496 to 297,952.

SHFE 1702 aluminum will fluctuate at around the 60-day moving average with mixed factors on Friday’s night trading.

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SHFE Aluminum Finishes Lower (2016-12-16)

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