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SMM Brief Review – 2011/7/27 Aluminum Futures
Edited by : AL CIRCLE
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As the bull market of SHFE aluminum futures continued, most active SHFE 1110 aluminum contract prices opened higher at RMB 18,010/mt on July 27. In the morning, most active SHFE 1110 aluminum contract prices successfully broke through RMB 18,000/mt after 11 a.m. and hit RMB 18,400/mt. At the tail of trading, most active SHFE 1110 aluminum contract prices slightly fell due to profit-making, and finally closed at RMB 18,310/mt surging by RMB 440/mt or 2.46%. Total positions of most active SHFE aluminum contracts drastically increased by 54,536 lots to 212,896 lots. With both transaction volumes and prices rising, the bull market is expected to continue, and most active SHFE 1110 aluminum contract prices are expected to reach RMB 18,500/mt in the short term.
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