SHFE 1708 Aluminum Falls Back After Initial Rise (2017-6-8)  

SHANGHAI, Jun. 8 (SMM) –SHFE 1708 aluminum opened at RMB 13,790/mt on Thursday, and crawled up slowly due to exit of shorts. Rebar prices shot up sharply before noon, boosting market sentiment. So, SHFE 1708 aluminum jumped to RMB 13,870/mt in the afternoon, but then fell back on short selling, ending at RMB 13,825/mt. Trading volumes increased to 115,812 lots, and positions increased 3,300 lots to 204,954 lots. SHFE 1708 aluminum is expected to move between RMB 13,790-13,900/mt during today’s night session.