SHFE Aluminum Closes Lower (2017-1-13)

Published: Jan 13, 2017 22:09

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SHFE 1703 aluminum opened at RMB 13,430/mt and finally closed at RMB 13,395/mt.

SHANGAHI, Jan. 13 (SMM) – On Friday, SHFE 1703 aluminum opened at RMB 13,430/mt and then advanced to RMB 13,545/mt with exit of shorts. Later, the contract dipped to RMB 13,215/mt as shorts strengthened and rallied with entering of longs. SHFE 1703 aluminum finally closed at RMB 13,395/mt. Trading volumes rose to 432,108 lots and positions increased 12,126 to 306,090. Trading volumes of all SHFE aluminum contracts were up 186,000 to 655,000 lots.

Attention should be on struggle between shorts and longs for the short term.

SHFE aluminum LME aluminum aluminum prices

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