SHFE 1608 Aluminum Ends with Small DeclineAuthor：Site Source：Network Click to rate：1532 Post time：2016-06-15
On Tuesday, SHFE 1608 aluminum fell to RMB 11,780/mt after opening at RMB 11,960/mt. But the most active contract then rebounded as shorts took profit before ending at RMB 11,855/mt. Trading volumes were up 119,000 lots to 255,184 lots, and positions were down 23,786 to 206,970. Most Chinese economic data for May were poor. Risk aversion is strong in SHFE aluminum market. Technically, SHFE aluminum is still searching for direction. Although SHFE 1608 aluminum has found support at the 5-day moving average for now, the ongoing off-season will keep prices in check.
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