Home / Metal News / Aluminium / SMM Aluminum Market Daily Review (2013-7-26)
SMM Aluminum Market Daily Review (2013-7-26)
Jul 29,2013 08:46CST
price review forecast
Source:SMM
SHFE 1310 aluminum contract opened slightly higher at RMB 14,400/mt last Friday, but immediately fell back to RMB 14,370/mt.

SHANGHAI, Jul. 29 (SMM) – SHFE 1310 aluminum contract opened slightly higher at RMB 14,400/mt last Friday, but immediately fell back to RMB 14,370/mt. The most active contract dipped further at the tail of the session due to falling copper prices, and closed at RMB 14,360/mt, down RMB 30/mt or 0.21%. Positions decreased by 382 lots to 64,538 lots, and trading volumes also shrank 2,220 lots to 2,584 lots. SHFE three-month aluminum contract is expected to continue to hover around at RMB 14,350/mt in the coming week. SHFE aluminum inventories decreased 11,916 mt to 365,742 mt. 

Mainstream traded prices for spot aluminum in Shanghai were RMB 14,340-14,350/mt, RMB 10-30/mt lower than SHFE 1308 aluminum contract prices. Low-iron aluminum was traded around RMB 14,510/mt. Falling SHFE aluminum prices turned market players in spot market bearish. Cargo holders were anxious to sell as the end-of-month liquidity crunch bit in, but downstream producers showed little interest, sending the high-end traded price down to RMB 14,350/mt. In the afternoon, a few traders held offers at RMB 14,330/mt, but this failed to stoke buying interest.  
 

latest SHFE aluminum prices
Shanghai spot aluminum prices

For queries, please contact Frank LIU at liuxiaolei@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn