SMM Metals Reports

SMM Brief on SHFE Aluminum Futures (2014-1-29)

SHANGHAI, Jan. 29 (SMM) – SHFE 1404 aluminum contract fluctuated in a tight range of RMB 13,560-13,600/mt during Tuesday’s night session after opening at RMB 13,585/mt. 2,346 lots were traded during the night hours, and positions shrank 116 lots to 65,078 lots. The most active wavered below RMB 13,600/mt amid thin trading during Wednesday’s day session, and ended up RMB 30/mt at RMB 13,560/mt. 5,544 lots were traded during the day session, and positions increased 854 lots to 65,932 lots. RMB 13,600/mt mark should pose great resistance for the light metal tomorrow since investors will pull out of the market for risk aversion on the last day before the weeklong holiday.


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