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SMM Daily Review - 2012/3/13 Aluminum Market
Mar 14,2012 08:56CST
smm insight
Source:SMM
The most active SHFE aluminum contract for May delivery gained a slight RMB 25/mt or 0.15% closing at RMB 16,200/mt on Tuesday.

SHANGHAI, Mar. 14 (SMM) – The most active SHFE aluminum contract for May delivery gained a slight RMB 25/mt or 0.15% closing at RMB 16,200/mt on Tuesday, after the Greek debt swap deal was struck while cautiousness stayed before the Fed interest rate meeting. SMM expects the contract to wander near RMB 16,200/mt in the near term as fundamentals stay weak.

Spot aluminum traded between RMB 15,930-15,960/mt, at discounts of RMB 10-40/mt over the SHFE current-month aluminum price in Shanghai. Low-iron aluminum was traded between RMB 16,030-16,050/mt. Trading only slightly improved after the Greek debt swap deal as weak demand continues to weigh on the light metal.

aluminum price
aluminum Al
SHFE aluminum
spot aluminum
Fed
Greek debt swap

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