SMM Aluminum Market Daily Review (2014-4-17)

Apr 18, 2014 08:47

On Wednesday night, SHFE 1406 aluminum contract vacillated between RMB 13,215-13,255/mt after starting at RMB 13,230/mt.

SHANGHAI, Apr. 18 (SMM) – On Wednesday night, SHFE 1406 aluminum contract vacillated between RMB 13,215-13,255/mt after starting at RMB 13,230/mt. Trading volumes totaled 6,802 lots, and positions contracted 828 lots to 119,442 lots. On Thursday, the most active contract was range-bound, and closed the day at RMB 13,240/mt. Trading volumes totaled 7,874 lots, and positions fell 1,402 lots to 118,040 lots.

Spot aluminum largely traded at RMB 12,990-13,000/mt in Shanghai, Wuxi and Hangzhou on Thursday. Rising SHFE 1405 aluminum contract drove spot aluminum prices up as well. Higher prices depressed buying interest. In the afternoon, offers were little changed. A few deals were done at RMB 13,000/mt.

SHFE aluminum prices

Shanghai aluminum prices

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SMM Aluminum Market Daily Review (2014-4-17)

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