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Home / Metal News / SHFE 1708 Aluminum Ends Slightly Higher (2017-6-16)

SHFE 1708 Aluminum Ends Slightly Higher (2017-6-16)

Jun 16, 2017 19:12

Source:SMM

SHFE 1708 aluminum rose to RMB 13,640/mt on Friday.

SHANGHAI, Jun. 16 (SMM) –SHFE 1708 aluminum rose to RMB 13,640/mt on Friday. Some traders bought spot goods while selling SHFE aluminum after delivery of SHFE 1706 aluminum, sending SHFE 1708 aluminum down to around the daily moving average. Finally, the most active contract ended up RMB 10/mt at RMB 13,595/mt. Trading volumes decreased 154,000 lots to 139,000 lots, and positions decreased 6,968 lots to 246,000 lots. Commissioning of new capacity added to market supply, while consumption is softening. So, aluminum prices will remain in downward track.

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SHFE 1708 aluminum moved down after opening at RMB 14,090/mt on Tuesday, touching an intraday low of RMB 14,005/mt in the afternoon.

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SHFE 1708 Aluminum Ends Slightly Higher (2017-6-16)

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