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SMM Aluminum Market Daily Review (2014-4-24)
Apr 25,2014 08:42CST
price review forecast
Source:SMM
On Wednesday night, SHFE 1407 aluminum contract crept higher to RMB 13,610/mt after starting at RMB 13,430/mt, and finished the night session at RMB 13,550/mt.

SHANGHAI, Apr. 25 (SMM) – On Wednesday night, SHFE 1407 aluminum contract crept higher to RMB 13,610/mt after starting at RMB 13,430/mt, and finished the night session at RMB 13,550/mt. Trading volumes totaled 29,812 lots, and positions added 4,904 lots to 121,700 lots. On Thursday, the most active contract extended gains, touching a session high of RMB 13,725/mt before closing up RMB 265/mt or 1.97% at RMB 13,695/mt. Trading volumes soared to 70,948 lots, but positions decreased 178 lots to 121,522 lots.  

Spot aluminum largely traded at RMB 13,350-13,400/mt in Shanghai, RMB 13,360-13,420/mt in Wuxi, and RMB 13,370-13,430/mt in Hangzhou on Thursday. SHFE 1405 aluminum contract gained around RMB 250/mt, encouraging sellers in physical markets to raise offers sharply as well. Rising prices fuelled buying interest of traders. In the afternoon, high offers left trading muted.

SHFE aluminum prices
Shanghai aluminum prices

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