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SMM Aluminum Market Morning Review (2013-11-5)

iconNov 5, 2013 09:23
LME aluminum opened at USD 1,846/mt on Monday.

SHANGHAI, Nov. 5 (SMM) – LME aluminum opened at USD 1,846/mt on Monday. The light metal ranged between day’s high of USD 1,850.8/mt and day’s low of USD 1,820/mt, closing the day down USD 14.7/mt at USD 1,828.3/mt. Trading volumes added 1,017 lots to 14,954 lots, and positions also increased 3,675 lots to 5,372,625 lots.

Market caution will will cause SHFE 1401 aluminum contract, the most active one, to open lower at RMB 14,350/mt on Tuesday, with prices expected between RMB 14,330-14,380/mt. Longs may enter the market at the bottom. In spot markets, a premium of RMB 0-40/mt is expected over SHFE 1311 aluminum contracts. 

 

LME aluminum
SHFE aluminum
Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market exchanges, and relying on SMM's internal database model, for reference only and do not constitute decision-making recommendations.

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