SHFE Aluminum Finishes with Gains (2017-3-31)

SHANGHAI, Mar. 31 (SMM) – On Friday, SHFE 1705 aluminum opened at RMB 13,815/mt and then climbed to RMB 13,895/mt. The contract surrendered some previous gains due to longs taking profits and later fluctuated narrowly at around RMB 13,855/mt. During the afternoon trading, SHFE 1705 aluminum climbed to RMB 13,900/mt as longs strengthened and touched RMB 14,000/mt. The contract closed at RMB 13,995/mt. Trading volumes were up to 345,774 lots and positions were down 672 to 178,234. Positions of all SHFE aluminum contracts increased 23,560 to 731,892. SHFE 1705 aluminum moved above the 20-day moving average for the first time on Mar. 30 since Mar. 6. The contract will move between RMB 13,800-14,200/mt in the coming week.