Stainless Steel Pipe Fittings

SHFE Aluminum Rallies as Bears Exit (Jan. 9, 2015)

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On Thursday night, SHFE 1503 aluminum contract drifted lower after starting at RMB 12,850/mt, and finished the night session at RMB 12,805/mt. 

China’s CPI hovered at 5-year low, while PPI fell sharply. However, short sellers closed positions in the afternoon, pushing the most active contract up to RMB 12,900/mt. The contract ended Friday at RMB 12,855/mt. Trading volumes totaled 62,750 lots, with positions down 5,722 to 161,134. A lack of positive news implies that any upside potential might be limited.

Zhejiang Yaang Pipe Industry Co., Limited

Article Categories:
Aluminum · Metals

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