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Home / Metal News / SHFE Aluminum Finishes Higher (2017-4-13)

SHFE Aluminum Finishes Higher (2017-4-13)

Apr 13, 2017 18:03

Source:SMM

SHFE 1706 aluminum started at RMB 13,960/mt and closed at RMB 14,125/mt.

SHANGHAI, Apr. 13 (SMM) – On Thursday, SHFE 1706 aluminum started at RMB 13,960/mt and then declined to RMB 13,900/mt with entering of shorts, and found strong supportat the 60-day moving average. During the afternoon trading, the contract remained rising momentum, up to as highs as RMB 14,180/mt, and then rolled back, hurt by positions closing by longs. SHFE 1706 aluminum closed at RMB 14,125/mt. Positions increased to 407,398 lots and positions rose 24,900 to 282,878. SHFE 1706 aluminum outperformed other metals in anticipation of lower capacity, but oversupply restricted any growth of the price.

The contract will swing between RMB 13,950-14,200/mt on Thursday’s night trading.

SHFE aluminum

LME aluminum

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