SMM Brief on SHFE Aluminum Futures: Prices Stagnant, China December Economic Data Eyed (2013-1-10)-Shanghai Metals Market

Hot Keywords

  • Inventory data
  • Air pollution
  • Macroeconomics
  • Production data
  • Zinc
  • Futures movement
  • Aluminium
  • hydrogenation stations
  • Nickel
  • Copper
  • nickel laterite
  • In the United States
  • Morning comments
  • Market commentary
  • Nickel ore

SMM Brief on SHFE Aluminum Futures: Prices Stagnant, China December Economic Data Eyed (2013-1-10)

SMM Insight 04:38:24PM Jan 10, 2013 Source:SMM

SHANGHAI, Jan. 10 (SMM) – Prices of SHFE 1303 aluminum contracts, the most active one, opened at RMB 15,255/mt on January 10 and saw little movement in the session. Finally, the March aluminum on the SHFE gained RMB 15/mt or 0.10% to finish at RMB 15,270/mt. Positions were down 284 lots to 62,494 lots. Markets are eyeing China’s December economic data due tomorrow. The most-traded SHFE aluminum contract should meet strong resistance at RMB 15,300/mt in the near term as longs are cautious of buying at higher prices.
 

SMM Brief on SHFE Aluminum Futures: Prices Stagnant, China December Economic Data Eyed (2013-1-10)

SMM Insight 04:38:24PM Jan 10, 2013 Source:SMM

SHANGHAI, Jan. 10 (SMM) – Prices of SHFE 1303 aluminum contracts, the most active one, opened at RMB 15,255/mt on January 10 and saw little movement in the session. Finally, the March aluminum on the SHFE gained RMB 15/mt or 0.10% to finish at RMB 15,270/mt. Positions were down 284 lots to 62,494 lots. Markets are eyeing China’s December economic data due tomorrow. The most-traded SHFE aluminum contract should meet strong resistance at RMB 15,300/mt in the near term as longs are cautious of buying at higher prices.