SHFE Aluminum Ends with Slim Losses (Dec. 3, 2015)

SHANGHAI, Dec. 3 (SMM) –SHFE 1602 aluminum sank to RMB 10,170/mt after opening at RMB 10,240/mt on Thursday, due to entry of shorts. The contract fell further to RMB 10,135/mt later as longs took profit. SHFE 1602 aluminum returned above RMB 10,200/mt in the afternoon as longs entered, but then fell back again to end the day at RMB 10,180/mt. Trading volumes of SHFE 1602 aluminum were down 65,058 lots to 273,672 lots, and its positions were up 9,712 to 252,782. Total positions of all SHFE aluminum contracts were up 15,986 to 784,628. The most active contract is expected to hover around RMB 10,200/mt in the short term.