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SMM Brief on SHFE Aluminum Futures (2014-4-1)
Apr 1,2014 17:01CST
price review forecast
Source:SMM
On Monday night, SHFE 1406 aluminum contract climbed to RMB 13,075/mt after starting at RMB 13,045/mt, but then surrendered gains to end the night session at RMB 13,065/mt.

SHANGHAI, Apr. 1 (SMM) – On Monday night, SHFE 1406 aluminum contract climbed to RMB 13,075/mt after starting at RMB 13,045/mt, but then surrendered gains to end the night session at RMB 13,065/mt. Trading volumes totaled 9,104 lots, and positions increased 926 lots to 119,592 lots. China’s official manufacturing PMI finalized at 50.3 in March, higher than the preliminary reading. However, HSBC’s final China manufacturing PMI for March was revised down to 48. The most active contract moved lower to RMB 13,000/mt on the heels of downbeat manufacturing data on Tuesday, closing the daytime session down RMB 15/mt at RMB 13,025/mt. Trading volumes totaled 13,578 lots, and positions were down 378 lots to 118,288 lots. The light metal should continue to test support at RMB 13,000/mt mark for the near future.


 

SHFE aluminum prices

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