SHANGHAI, Jan. 26 (SMM) – On Thursday, SHFE 1703 aluminum started at RMB 13,805/mt and then climbed to RMB 13,860/mt with positions closing by shorts. The contract later dipped below the 5-day moving average to RMB 13,630/mt, hurt by leaving of longs. During the afternoon trading, SHFE 1703 aluminum rallied thanks to leaving of shorts and finally closed at RMB 13,835/mt. Positions fell 24,080 to 233,714. Positions of SHFE 1704 aluminum rose 12,176.
SHFE market will close from Thursday night for 2017 Chinese New Year holiday.
