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SMM Brief Review – 2011/7/15 Aluminum Futures
Edited by : AL CIRCLE
1 min read
Today’s most active SHFE 1109 aluminum contract prices opened slightly lower at RMB 17,365/mt, and slightly rebounded in the morning session. After 10:30, the longs pushed SHFE 1109 aluminum contract prices to today’s highest RMB 17,605/mt, which fell later due to the shorts’ selling. Finally closed price was RMB 17,490/mt, up RMB 95/mt or 0.55% from previous trading day. Positions of most active SHFE 1109 aluminum contracts increased by 4,870 lots to 106,160 lots. Aluminum became the only base metal gained in SHFE today as a result of capital support, with transactions of most active SHFE 1109 aluminum contracts doubling to near 50,000 lots. SMM expects SHFE 1109 aluminum contract prices to fluctuate at RMB 17,500/mt in the short term.
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