09 JUNE 2016Shanghai Metals Market
SHFE 1607 aluminium rises on pre-holiday downstream stocking
Edited by : AL CIRCLE
1 min read
On Tuesday’s night trading, SHFE 1608 aluminium jumped to RMB 11,745/mt after opening at RMB 11,640/mt. But prices then fell back to RMB 11,590/mt and ended at RMB 11,710/mt.
On Wednesday, SHFE 1608 aluminium opened at RMB 11,710/mt. Pre-holiday downstream stocking triggered short covering on SHFE aluminium market, allowing the most active contract to rise to RMB 11,895/mt before ending at RMB 11,870/mt. Trading volumes were down 57,292 lots to 241,000 lots, and positions were down 23,206 to 242,000. SHFE 1608 aluminium is expected to move widely after the holiday.
On Wednesday, SHFE 1608 aluminium opened at RMB 11,710/mt. Pre-holiday downstream stocking triggered short covering on SHFE aluminium market, allowing the most active contract to rise to RMB 11,895/mt before ending at RMB 11,870/mt. Trading volumes were down 57,292 lots to 241,000 lots, and positions were down 23,206 to 242,000. SHFE 1608 aluminium is expected to move widely after the holiday.
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