SHFE 1610 Aluminum Jumps on Long BuyingAuthor：Site Source：Network Click to rate：1470 Post time：2016-08-09
On Monday, SHFE 1610 aluminum opened at RMB 12,290/mt, swinging between gains and losses due to intense game between longs and shorts. A wave of long buying before the closing bell pushed the most active contract up to an intraday high of RMB 12,395/mt, closing the day at RMB 12,385/mt. Trading volumes were up 34,930 lots to 171,128 lots, and positions were up 16,874 to 195,008. SHFE 1610 aluminum has climbed above the 20-day moving average and looks set to challenge RMB 12,500/mt.
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