SHFE 1710 Aluminum Ends with Losses (2017-8-23)    

SHANGHAI, Aug. 23 (SMM) – SHFE 1710 aluminum fell to RMB 16,090/mt due to exit of longs after opening at RMB 16,285/mt on Wednesday. The most active contract then rallied on short covering before ending at RMB 16,210/mt. Trading volumes rose to 457,530 lots, and positions were down 16,298 lots to 338,614 lots. Slump in ferrous metals prices hurt sentiment in nonferrous metals market. Base metals prices fell, except nickel and lead. SHFE 1710 aluminum may recover some losses and test support at the 10-day moving average during the night session.