Home / Metal News / SMM Aluminum Market Morning Review (2013-9-10)

SMM Aluminum Market Morning Review (2013-9-10)

iconSep 10, 2013 09:25
Source:SMM
China’s stock market rose on positive economic data.

SHANGHAI, Sept. 10 (SMM) – China’s stock market rose on positive economic data. Meanwhile, tensions over the Syrian war crisis eased some, sending the US dollar index down below 82. However, a weaker US dollar did not offer upward momentum to LME aluminum, which actually fell, a reflection of strong risk aversion sentiment. LME aluminum opened at USD 1,823/mt on Monday before falling to USD 1,801/mt. Finally, the light metal finished USD 14.3/mt lower at USD 1,807.3/mt. Trading volumes contracted 1,028 lots to 10,303 lots, but positions increased 3,558 lots to 7,567,910 lots. LME aluminum inventories dropped 5,100 mt to 5,370,350 mt. 

SHFE 1312 aluminum contract is expected to open at RMB 14,210/mt on Tuesday and move within RMB 14,200-14,250/mt. In spot markets, a contango of RMB 0-10/mt and a backwardation of RMB 0-30/mt are expected over SHFE 1309 aluminum contract. 
 

latest LME aluminum prices
SHFE aluminum prices

For queries, please contact Michael Jiang at michaeljiang@smm.cn

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

Related news

SMM Events & Webinars

All