SHFE Aluminum to Extend Gains on Short CoveringAuthor：Site Source：Network Click to rate：1405 Post time：2015-12-31
SHANGHAI, Dec. 31 (SMM) – SHFE 1601 aluminum gained RMB 360/mt to RMB 11,325/mt during Wednesday’s night session due to short squeeze, and SHFE 1603 aluminum also jumped above RMB 10,800/mt. The most active contract should gather more strength today and rise to RMB 10,800-10,900/mt. In China’s spot market, downstream producers and traders will buy only as needed. Spot discounts of RMB 0-20/mt and spot premiums of RMB 0-20/mt are expected over SHFE 1601 contract.
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