Metals News
SMM Aluminum Market Daily Review (2013-4-12)
price review forecast
Apr 15,2013

SHANGHAI, Apr. 15 (SMM) – SHFE 1306 aluminum contract opened slightly higher at RMB 14,750/mt on April 12. Later, the most active aluminum contract sank to RMB 14,700/mt as longs took profits at highs, and hovered near RMB 14,720/mt in the afternoon. Finally, SHFE aluminum for June delivery shed RMB 15/mt or 0.10% at RMB 14,715/mt. Positions shrank 2,232 lots to 80,932 lots. The downside space of the most active SHFE aluminum contract was limited, though it failed to break though the 30-day moving average. The most-traded SHFE aluminum contract should continue to test support at RMB 14,700/mt. Latest SHFE aluminum inventories increased 4,397 mt to 509,458 mt.

Spot aluminum was traded at RMB 14,560-14,590/mt in Shanghai last Friday, a discount of RMB 50-80/mt over SHFE 1304 aluminum contract prices. Low-iron aluminum was trade around RMB 14,720/mt. SHFE 1306 aluminum contract pared some gains. Cargo holders were in a hurry to sell against stable buying interest from downstream producers and middlemen, sending spot aluminum prices down below RMB 14,600/mt. Overall trading was light. In the afternoon, the most active SHFE aluminum contract was mired. Wait-and-see mood dominated the spot market, with sparse offers reported at RMB 14,560-14,570/mt. Few deals were done.

latest SHFE aluminum prices
Shanghai spot aluminum prices
For queries, please contact Frank LIU at
For more information on how to access our research reports, please email
Related Price

No Data