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SMM Aluminum Market Daily Review (2014-5-30)
Jun 3,2014 09:12CST
price review forecast
Source:SMM
Last Thursday night, SHFE 1408 aluminum contract climbed to RMB 13,400/mt after starting at RMB 13,375/mt, and finished the night session at RMB 13,430/mt.

SHANGHAI, Jun. 3 (SMM) – Last Thursday night, SHFE 1408 aluminum contract climbed to RMB 13,400/mt after starting at RMB 13,375/mt, and finished the night session at RMB 13,430/mt. Trading volumes totaled 24,882 lots, with positions up 4,422 lots to 130,172 lots. On Friday, the most active contract jumped to RMB 13,550/mt before ending the day up RMB 70/mt at RMB 13,530/mt. Trading volumes surged 51,066 lots to 75,948 lots, with positions up 5,510 lots to 135,682 lots.

Spot aluminum in Shanghai largely traded between RMB 13,290-13,300/mt Friday morning, a discount of RMB 70-80/mt over SHFE 1406 aluminum contract. Mainstream traded prices were RMB 13,280-13,300/mt Wuxi and RMB 13,330-13,350/mt in Hangzhou. Sellers were eager to sell as month-end liquidity crunch bit in and since the three-day holiday is around the corner. Demand picked up slightly ahead of the holiday. SHFE front-month aluminum contract rallied at the tail of trading, but transactions in physical market, with prevailing traded prices at RMB 13,290-13,300/mt.  

SHFE aluminum
spot aluminum prices

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