SHFE Aluminum Rebounds on Short-Covering (Aug. 25, 2015)

SHANGHAI, Aug. 25 (SMM) – SHFE 1510 aluminum opened at RMB 11,855/mt on Tuesday. The most active contract ranged RMB 11,850-11,910/mt before ending up RMB 40/mt or 0.34% at RMB 11,870/mt. The rebound was driven by short-covering. Trading volumes were down 13,500 lots to 41,970 lots, and positions were down 5,340 lots. With bearish sentiment still lingering, the contract will lack momentum for more gains.