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SMM Brief Review – 2011/7/19 Aluminum Futures
Edited by : AL CIRCLE
1 min read
Most active SHFE aluminum contract changed to 1110 on July 19. In the morning session, after opening higher at RMB 17,680/mt, SHFE aluminum prices temporarily broke RMB 17,700/mt and hit RMB 17,725/mt. However, after short selling increased, SHFE aluminum prices fell and fluctuated between RMB 17,620-17,660/mt. SHFE aluminum prices finally closed at RMB 17,665/mt, up RMB 85/mt or 0.48% from previous trading day. Total positions of most active SHFE 1110 aluminum contracts increased by 8,362 lots to 107,620 lots. SMM expects supply shortage of spot aluminum will push up SHFE aluminum prices to test RMB 17,800/mt in the short term.
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