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Home / Metal News / SHFE 1707 Aluminum Rebounds on Short Covering (2017-5-25)

SHFE 1707 Aluminum Rebounds on Short Covering (2017-5-25)

May 25, 2017 17:25

SHFE 1707 aluminum dipped to RMB 13,925/mt due to short selling after opening at RMB 13,980/mt on Thursday.

SHANGHAI, May 25 (SMM) –SHFE 1707 aluminum dipped to RMB 13,925/mt due to short selling after opening at RMB 13,980/mt on Thursday. But, entry of longs allowed the most active contract to rebound to RMB 14,130/mt in the afternoon, ending at RMB 14,090/mt. Trading volumes increased to 275,396 lots, and positions decreased 23,152 lots to 219,800 lots. SHFE 1707 aluminum should continue struggling around the 40-day moving average in the short term.

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