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SHFE Aluminum Rises on Fading Short Selling (2017-5-9)  
May 9,2017 17:19CST
price review forecast
Source:SMM
SHFE 1707 aluminum climbed to RMB 13,870/mt on the back of long buying after opening at RMB 13,830/mt on Tuesday, but then fell to RMB 13,765/mt on short selling.

SHANGHAI, May 9 (SMM) – SHFE 1707 aluminum climbed to RMB 13,870/mt on the back of long buying after opening at RMB 13,830/mt on Tuesday, but then fell to RMB 13,765/mt on short selling. The contract rebounded to RMB 13,890/mt in the afternoon before ending at RMB 13,855/mt, with trading volumes down 72,998 lots to 155,994 lots, and positions up 11,838 lots to 245,642 lots. Short selling is limited for now. SHFE 1707 aluminum should continue recovering lost ground. 

 

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