Shanghai Metals Market
SHFE 1609 aluminium falls on short selling
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1 min read
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.
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.
Short selling was reported once prices climbed to near the daily moving average. SHFE 1609 aluminium will test support at RMB 12,000/mt.
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