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SHFE Aluminum Closes Higher (2017-7-12)

iconJul 12, 2017 18:15
Source:SMM
SHFE 1709 aluminum opened at RMB 14,235/mt and finished at RMB 14,215/mt.

SHANGHAIM, Jul. 12 (SMM) – On Wednesday, SHFE 1709 aluminum opened at RMB 14,235/mt and then edged down to RMB 14,205/mt. Later, the contract rallied to RMB 14,280/mt. During the afternoon trading, SHFE 1709 aluminum fell back quickly, but found strong support at RMB 14,200/mt. The contract finished at RMB 14,215/mt. Trading volumes reduced 11,898 to 165,746 lots and positions rose 21,442 to 280,912.

For now, aluminum producers have to cut output further. SHFE 1709 aluminum will fluctuate at current level, or increase in a short term.

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