27 JULY 2016Shanghai Metals Market
SHFE 1609 aluminium falls on short selling
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1 min read
<p>On Monday’s night trading, SHFE 1609 aluminium fell to RMB 12,140/mt after opening at RMB 12,175/mt. Prices then rallied to RMB 12,205/mt, closing at RMB 12,200/mt. <br /><br />On Tuesday, short selling sent the most active contract down to RMB 12,115/mt after starting at RMB 12,195/mt. Finally, the contract ended at RMB 12,120/mt. Trading volumes were down 57,460 lots to 86,604 lots, and positions were down 1,404 to 181,170. <br /><br />Short selling was reported once prices climbed to near the daily moving average. SHFE 1609 aluminium will test support at RMB 12,000/mt.</p>
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