SMM Aluminum Market Daily Review (2015-8-20)

SHANGHAI, Aug. 21 (SMM) –SHFE 1510 aluminum rose to RMB 12,045/mt after opening at RMB 11,960/mt on Thursday. But the contract failed to break through the 5-day and 10-day moving averages. Trading volumes were up 1,342 lots to 26,696 lots, and positions were down 2,918 lots to 133,000 lots.  

SHFE 1509 aluminum climbed to RMB 11,970/mt after opening at RMB 11,930/mt on Thursday. Aluminum prices were mainly between RMB 11,850-11,870/mt in Shanghai, discounts of RMB 100-120/mt over September aluminum on the SHFE, versus RMB 11,850-11,870/mt in Wuxi and RMB 11,860/mt in Hangzhou. Traders were active in the market, but downstream buyers showed little buying interest, causing spot discounts to widen. In the afternoon, suppliers raised offers to RMB 11,910/mt after SHFE aluminum rose, with spot discounts reported around RMB 90/mt.