Metals News
SMM Daily Review - 2012/1/4 Aluminum Market
smm insight
08:55AM
Source:SMM

SHANGHAI, Jan. 5 (SMM) – SHFE aluminum for three-month delivery climbed to an intraday high of RMB 16,180/mt in the morning, but slipped to and stayed at RMB 16,030/mt in the afternoon due to falling Chinese stocks prices and light spot aluminum demand. Positions of the contract decreased 2,570 lots to 19,830 lots. Spot aluminum traded mainly between RMB 16,000-16,040/mt in Shanghai, with discounts of RMB 0-40/mt over the SHFE current-month aluminum price. Spot aluminum trading was moderate in the beginning, but turned light after quotations were hiked.

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