SHFE 1707 Aluminum Hovers Narrowly on Pre-Holiday Caution (2017-5-26)  

SHANGHAI, May 26 (SMM) –SHFE 1707 aluminum dipped to RMB 14,040/mt after opening at RMB 14,080/mt on Friday. But, the most active contract then rebounded to RMB 14,110/mt, ending at RMB 14,085/mt. Trading volumes decreased to 123,000 lots to 152,000 lots, and positions decreased 7,538 lots to 212,262 lots. Positions of SHFE 1708 aluminum were up 7,912 lots. The SHFE will be closed next Monday and Tuesday for Dragon Boat Festival. LME aluminum may rise during the holiday, which will allow SHFE 1707 aluminum to rise as well after the holiday.