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EventsConsultingSHFE 1710 Aluminum Hovers at Highs (2017-8-10)
Aug 10,2017 18:07
CSTSMM Comments
Source:SMM
SHFE 1710 aluminum rose to RMB 16,295/mt after opening at RMB 16,080/mt on Thursday, but then fell back.
SHANGHAI, Aug. 10 (SMM) – SHFE 1710 aluminum rose to RMB 16,295/mt after opening at RMB 16,080/mt on Thursday, but then fell back. In the afternoon, entry of longs allowed the contract to rally to RMB 16,025/mt before ending at RMB 16,085/mt Trading volumes fell 170,000 lots to 946,258 lots and positions fell 2,432 lots to 444,046 lots. Positive factors are fading, and shorts are entering. So, SHFE 1710 aluminum may rise slower and see profit taking by longs at highs tonight.
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