SHFE 1707 Aluminum Falls for Two Days in A Row (2017-5-23)  

SHANGHAI, May 23 (SMM) –SHFE 1707 aluminum dipped to RMB 13,900/mt due to short selling after opening at RMB 13,990/mt on Tuesday. The most active contract then rebounded on dip buying, but fell again before the day’s close as longs pulled out, ending at RMB 13,910/mt. Trading volumes decreased to 186,490 lots, and positions increased 2,030 lots to 256,148 lots. SHFE 1707 aluminum should test support at RMB 13,900/mt during today’s night session.