SHFE 1708 Aluminum Performs Badly (2017-6-12)

SHANGHAI, Jun. 12 (SMM) –SHFE 1708 aluminum fell from the high of RMB 13,870/mt touched last Friday night all the way down on Monday to RMB 13,700/mt. Finally, the most active contract ended up RMB 10/mt from the previous trading day at RMB 13,745/mt. Trading volumes increased 105 lots to 205,244 lots, and positions decreased 13,280 lots to 232,400 lots. Aluminum ingots stocks in domestic five major markets rose another 2,000 mt from last Thursday to 1.21 million mt on Monday. Demand was poor in spot market. SHFE 1708 aluminum should remain weak in the short term.