Home / Metal News /  / SMM Brief on SHFE Aluminum Futures (2014-3-24)
SMM Brief on SHFE Aluminum Futures (2014-3-24)
Mar 24,2014 16:59CST
price review forecast
Source:SMM
SHFE 1406 aluminum contract started last Friday’s night session at RMB 12,785/mt before drifting lower to RMB 12,700/mt, and closed at RMB 12,750/mt.

SHANGHAI, Mar. 24 (SMM) – SHFE 1406 aluminum contract started last Friday’s night session at RMB 12,785/mt before drifting lower to RMB 12,700/mt, and closed at RMB 12,750/mt. Trading volumes totaled 13,682 lots, and positions gained 2,464 lots to 122,154 lots. On Monday, the most active contract climbed to RMB 12,775/mt, but retreated to RMB 12,700/mt on the heels of disappointing economic data. HSBC’s China March manufacturing PMI hit an 8-month low, fuelling worries over slowdown in the world’s second largest economy. The light metal finally ended the day down RMB 25/mt at RMB 12,750/mt. Trading volumes totaled 12,686 lots, while positions were down 2,022 lots to 442 lots. SHFE 1406 aluminum contract will continue to be capped under the 5-day moving average for the immediate future.


 

SHFE 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

Related news