SHFE aluminum to remain in range-bound trading

Date 10/12/2018 9:37:25 AM Source: SHMET

SHANGHAI, Oct 12 (SHMET) – SHFE aluminum is expected to trade in range bound on October 12 after it fell for two consecutive days.

This week, aluminum price received weak support from the cost side as alumina price went downward and consumption did not improve.

SHFE aluminum 1811 contract opened at 14,210 yuan/mt in the night trading session yesterday and finally closed at 14,225 yuan/mt, down 45 yuan or 0.32% from the previous trading day.

Transactions stood at 82,146 lots, and the position reduced by 4,206 lots to 195,274 lots.

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