SHFE 1709 Aluminum Falls Back After Rising Initially (2017-7-20)

Published: Jul 20, 2017 17:28

Save

SHFE 1709 aluminum opened at RMB 14,430/mt on Thursday, and jumped to RMB 14,520/mt.

SHANGHAI, Jul. 20 (SMM) – SHFE 1709 aluminum opened at RMB 14,430/mt on Thursday, and jumped to RMB 14,520/mt. But, the most active contract then fell back to below the 5-day moving average as some longs exited, ending at RMB 14,420/mt. Trading volumes increased to 194,078 lots, and positions decreased 824 lots to 312,238 lots. SHFE 1709 aluminum will test resistance at RMB 14,500/mt in the short term.

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 to learn 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

19 hours ago

Geopolitical Conflicts Reshape Prebaked Anode Exports; SE Asia Demand Supports Full-Year Growth 【SMM Analysis】

Amid this structural adjustment in global regional demand, with gains in some markets offsetting declines in others, China’s prebaked anode exports can offset the pressure from weakening demand in traditional markets through market structure optimization and a shift in the center of orders. Coupled with its own capacity and supply chain advantages, China’s prebaked anode exports are expected to maintain a certain increase for the full year.

19 hours ago

Inventory fluctuated downward as increased warehouse withdrawals accelerated destocking, and recovering consumption drove processing fees back above parity [SMM Aluminum Billet Weekly Review]

During the week, as the geopolitical conflict in the Middle East continued to spread, market macro sentiment changed significantly, aluminum prices came under marked pressure and fell noticeably, while aluminum billet processing fees recovered to trade above parity.

19 hours ago

Impact of Hormuz Blockade on China's Aluminum Wire and Cable Exports to the Middle East [SMM Analysis]

Based on China’s 2025 aluminum wire and cable export data to the Middle East, Saudi Arabia was the largest export destination in the region, with annual exports of 9,426.752 mt, accounting for 31.88 of the Middle East total

19 hours ago