SHFE 1708 Aluminum Follows Other Base Metals Up (2017-6-30)  -Shanghai Metals Market

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SHFE 1708 Aluminum Follows Other Base Metals Up (2017-6-30)  

Price Review & Forecast 06:47:53PM Jun 30, 2017 Source:SMM

SHANGHAI, Jun. 30 (SMM) – SHFE 1708 aluminum opened at RMB 14,005/mt on Friday. The most active contract dived to RMB 13,815/mt, but then followed other base metals up, meeting resistance at RMB 13,920/mt. Finally, SHFE 1708 aluminum ended at RMB 13,945/mt. Trading volumes increased to 154,014 lots, and positions decreased 6,582 lots to 189,936 lots. June 30 is the deadline for local governments to finish checks on illegal aluminum capacity, and the list of illegal aluminum capacity is expected to be released this coming week. SHFE 1708 aluminum will fluctuate between RMB 13,750-14,050/mt this coming week.  

 

SHFE 1708 Aluminum Follows Other Base Metals Up (2017-6-30)  

Price Review & Forecast 06:47:53PM Jun 30, 2017 Source:SMM

SHANGHAI, Jun. 30 (SMM) – SHFE 1708 aluminum opened at RMB 14,005/mt on Friday. The most active contract dived to RMB 13,815/mt, but then followed other base metals up, meeting resistance at RMB 13,920/mt. Finally, SHFE 1708 aluminum ended at RMB 13,945/mt. Trading volumes increased to 154,014 lots, and positions decreased 6,582 lots to 189,936 lots. June 30 is the deadline for local governments to finish checks on illegal aluminum capacity, and the list of illegal aluminum capacity is expected to be released this coming week. SHFE 1708 aluminum will fluctuate between RMB 13,750-14,050/mt this coming week.