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SMM Aluminum Market Morning Review (2014-4-14)
Apr 14,2014 09:33CST
price review forecast
Source:SMM
LME aluminum opened at USD 1,885.3/mt last Friday.

SHANGHAI, Apr. 14 (SMM) – LME aluminum opened at USD 1,885.3/mt last Friday. The light metal crept up to USD 1,902.5/mt, but then fell back to USD 1,868.5/mt as the greenback strengthened on better-than-expected US March PPI and April preliminary consumer sentiment index. Finally, LME aluminum closed the day down USD 10/mt at USD 1,877.5/mt. Trading volumes contracted 5,148 lots to 19,112 lots, but positions increased 6,633 lots to 127,260 lots. 

On last Friday night, SHFE 1406 aluminum contract hovered above the 5-day moving average after starting at RMB 13,210/mt, and finished the night session at RMB 13,215/mt. Trading volumes totaled 13,008 lots, and positions added 98 lots to 127,260 lots.

The most active SHFE aluminum contract should fluctuate between RMB 13,140-13,220/mt on Monday. In China’s physical market, market players will hold to the sidelines on the first day of the week, with spot discounts expected RMB 120-160/mt over SHFE 1404 aluminum contract.            


 

LME aluminum prices
SHFE aluminum prices

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