SHFE Aluminum Falls on Negative Export Data (Jun. 8, 2015)

SHANGHAI, Jun. 8 (SMM) –SHFE 1508 aluminum contract hovered narrowly above RMB 13,000/mt on Monday morning. China’s exports of unwrought aluminum and aluminum semis fell to 410,000 mt in May from 430,000 mt in April, customs data showed. The negative caused the most active contract to close at an intraday low of RMB 12,950/mt. Trading volumes totaled 31,406 lots, and positions were down 1,378 to 132,024. More losses might lie ahead since bearishness is growing.