SHFE 1708 Aluminum Follows Other Base Metals Up (2017-6-23)  

SHANGHAI, Jun. 23 (SMM) –SHFE 1708 aluminum opened at RMB 13,840/mt on Friday, moving around the 20-day moving average in morning session. The most active contract followed SHFE copper up in the afternoon to RMB 13,950/mt before ending at RMB 13,935/mt. Trading volumes decreased to 104,596 lots, and positions decreased 1,658 lots to 201,086 lots. Positions of all SHFE aluminum contracts were down 136,000 lots to 485,000 lots in six consecutive trading days, suggesting interest in aluminum is waning further. SHFE 1708 aluminum will move mainly at RMB 13,750-13,950/mt next week.