SHFE 1609 Aluminum Hit by Short SellingAuthor：Site Source：Network Click to rate：1520 Post time：2016-07-20
On Tuesday, short selling sent the most active contract down below the 20-day moving average to RMB 12,205/mt after starting at RMB 12,460/mt. Finally, the contract ended at RMB 12,280/mt. Trading volumes were up 69,704 lots to 211,724 lots, and positions were down 4,864 to 201,854. Positions of all SHFE aluminum contracts were up 6,972 to 545,256. Growing supply and waning consumption gave shorts reasons to enter the market. SHFE 1609 aluminum will remain under downward pressure.
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