SHANGHAI, Aug. 11 (SMM) –On Wednesday’s night trading, SHFE 1610 aluminum opened at RMB 12,485/mt and fell to RMB 12,420/mt. Later dropped further to RMB 12,360/mt before finding support at the 5-day moving average, to end at RMB 12,385/mt.
On Thursday, SHFE 1610 aluminum opened at RMB 12,385/mt and slid to RMB 12,355/mt/ The price hovered around RMB 12,400/mt before closing at RMB 12,390/mt. Trading volumes were down 19,504 lots to 103,748 lots, and positions were down 8,192 to 202,964. SHFE 1610 aluminum will continue seeking direction.