SHANGHAI, Apr. 5 (SMM) – On Wednesday, SHFE 1705 aluminum started at RMB 13,930/mt and then advanced to RMB 14,185/mt quickly. The contract later fluctuated narrowly at around RMB 14,150/mt. During the afternoon trading, SHFE 1705 aluminum dipped to RMB 14,085/mt with entering of shorts and increased again at the tail of trading with positions opening by longs. SHFE 1705 aluminum finally closed at RMB 14,160/mt. Trading volumes were down to 227,174 lots and positions were up 992 to 269,514. Positions of SHFE 1706 aluminum increased 20,030 to 211,314.
SHFE 1705 aluminum will keep rising in a short term.