SHFE 1608 Aluminum Rises on Long BuyingAuthor：Site Source：Network Click to rate：1546 Post time：2016-06-22
On Tuesday, exit of shorts pushed SHFE 1608 aluminum up after opening at RMB 12,125/mt. Long buying in the afternoon pushed the most active contract up further to RMB 12,215/mt before ending at RMB 12,205/mt. Trading volumes were up 25,274 lots to 217,738 lots, and positions were down 1,948 to 201,490. Falling aluminum stocks and a softer US dollar allowed SHFE aluminum to rise. But investors should be alert to possible selling pressure at highs from smelters for hedging purpose.
News center