SHFE Aluminum Finishes Lower (2017-4-10)

Published: Apr 10, 2017 17:00

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SHFE 1705 aluminum started at RMB 14,120/mt and closed at RMB 14,070/mt.

SHANGHAI, Apr. 10 (SMM) – On Monday, SHFE 1705 aluminum started at RMB 14,120/mt and climbed to RMB 14,180/mt. The contract later slid below RMB 14,000/mt to RMB 13,960/mt after shorts strengthen at highs. During the afternoon trading, SHFE 1705 aluminum rallied to RMB 14,100/mt briefly with entering of longs and then rolled back to RMB 14,025/mt, hurt by positions opening by shorts. The contract rallied to above the 5-day moving average at the tail of trading and closed at RMB 14,070/mt. Trading volumes were up to 232,078 lots and positions were down 2,900 to 250,024. Positions of SHFE 1706 aluminum increased 3,324 to 218,310. Trading volumes of all SHFE aluminum contracts rose 40,384 to 531,000 lots.

SHFE 1705 aluminum is expected to fluctuated around RMB 14,000/mt for the near term.

SHFE aluminum LME aluminum aluminum prices

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