SHFE Aluminum to Move Lower (2017-1-6)

SHANGHAI, Jan. 6 (SMM) – On Friday, SHFE 1703 aluminum started at RMB 12,620/mt and then advanced to RMB 12,650/mt. Later, the contract dropped with entering of shorts. During the afternoon trading, SHFE 1703 aluminum dipped further to RMB 12,505/mt and finally ended at RMB 12,510/mt. Trading volumes increased to 12,510 lots and positions rose 14,638 to 271,096. Fundamentals tend to be soft. But SHFE 1703 aluminum will find support at RMB 12,500/mt on Friday’s night trading.