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SMM Aluminum Market Daily Review (2014-6-5)
Jun 6,2014 09:01CST
price review forecast
Source:SMM
The most active SHFE 1408 aluminum contract started Wednesday’s night session at RMB 13,300/mt, and then rebounded to RMB 13,380/mt before finishing at RMB 13,375/mt.

SHANGHAI, Jun. 6 (SMM) – The most active SHFE 1408 aluminum contract started Wednesday’s night session at RMB 13,300/mt, and then rebounded to RMB 13,380/mt before finishing at RMB 13,375/mt. During the night session, traded volumes amounted to 23,910 lots, while positions decreased 72 lots to 135,732 lots.

On Thursday, SHFE aluminum prices fluctuated mostly around the settle prices of the night session, and rallied sharply to RMB 13,425/mt at the tail of the trading, ending down RMB 25/mt at RMB 13,400/mt. Traded volumes were 19,908 lots, while positions lost 1,498 lots.

Physical aluminum traded mostly between RMB 13,160-13,170/mt in Shanghai on Thursday, a discount of RMB 70-80/mt over the SHFE 1406 aluminum contract. Mainstream traded prices were RMB 13,140-13,150/mt Wuxi and RMB 13,180-13,200/mt in Hangzhou. Downstream producers rarely purchased goods, expecting further declines in the SHFE front-month aluminum contract following a 5-day losing streak. Some middlemen hunted for bargains, but traded volumes were still rather light. Cargo holders cut supplies in the afternoon, with quotations moving higher.  

SHFE aluminum
spot aluminum prices

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