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Home / Metal News / SHFE Aluminum Closes with Gains (2017-3-3)

SHFE Aluminum Closes with Gains (2017-3-3)

iconMar 3, 2017 18:41
Source:SMM
On Friday, SHFE 1705 aluminum, becoming the most actively trade one, opened at RMB 14,010/mt and ended at RMB 14,235/mt.

SHANGHAI, Mar. 3 (SMM) – On Friday, SHFE 1705 aluminum, becoming the most actively trade one, opened at RMB 14,010/mt and then dropped to RMB 13,965/mt. Later, the contract advanced to the 5, 10 and 50-day moving averages with positions opening by longs. During the afternoon trading, SHFE 1705 aluminum broke through the moving averages thanks to exit of shorts, up to as high as RMB 14,255/mt. The contract ended at RMB 14,235/mt. Trading volumes increased 31,110 to 162,852 lots and positions rose 8,586 to 249,474.

SHFE 1705 aluminum will hover at highs in a short term with wary longs and shorts.

SHFE aluminum
LME aluminum
aluminum prices

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