SHFE 1708 Aluminum Falls Back (2017-6-22)

Published: Jun 22, 2017 18:00

Save

SHFE 1708 aluminum opened at RMB 13,910/mt on Thursday, and sank to RMB 13,755/mt on short selling.

SHANGHAI, Jun. 22 (SMM) –SHFE 1708 aluminum opened at RMB 13,910/mt on Thursday, and sank to RMB 13,755/mt on short selling. Finally, the most active contract ended at RMB 13,765/mt. Trading volumes increased to 172,830 lots, and positions decreased 8,218 lots to 202,744 lots. Positions of all SHFE aluminum contracts were down 130,000 lots in recent five trading days, reflecting investors are losing interest in aluminum. SHFE 1708 aluminum will fall further to test support at the 10-day moving average.

Al price aluminum prices SHFE aluminum prices

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

7 mins ago

Fluorite Strength Bolsters Cost Base, Supply-Demand Support Drives Aluminum Fluoride Upward in August [SMM Analysis]

Backed by rigid cost-side support, the industry's low supply pattern, and coupled with the significant boost to industry chain sentiment from the sharp hike in August hydrofluoric acid long-term contract prices, the aluminum fluoride market price is expected to hold up well overall in August.

7 mins ago

22 mins ago

[SMM Flash News] LME Aluminium Stocks Draw by 1,900 tonnes on 30 July

On 30 July, London Metal Exchange (LME): Total stocks 264,400 tonnes, change -1,900 tonnes; Warranted stocks 245,250 tonnes; Cancelled warrants 19,150 tonnes, change -1,900 tonnes.

22 mins ago

39 mins ago

Weak Trading amid Off-Season Overseas Primary Aluminum Spot Market Falls Broadly This Week 【SMM Analysis】

39 mins ago