SHFE 1708 Aluminum Falls Back (2017-6-22)  -Shanghai Metals Market

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

Price Review & Forecast 06:00:35PM Jun 22, 2017 Source:SMM

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. 


 

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

Price Review & Forecast 06:00:35PM Jun 22, 2017 Source:SMM

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.