Home / Metal News / Nickel / SMM Aluminum Market Daily Review (2014-6-6)
SMM Aluminum Market Daily Review (2014-6-6)
Jun 9,2014 09:22CST
price review forecast
Source:SMM
The most active SHFE 1408 aluminum contract started last Thursday’s night session at RMB 13,385/mt, and finished at RMB 13,405/mt.

SHANGHAI, Jun. 9 (SMM) – The most active SHFE 1408 aluminum contract started last Thursday’s night session at RMB 13,385/mt, and finished at RMB 13,405/mt. During the night session, traded volumes totaled 15,526 lots, while positions gained 1,138 lots to 135,372 lots.

Last Friday, the most active contract rallied to a high of RMB 13,460/mt, and ended up RMB 70/mt at RMB 13,425/mt. Traded volumes amounted to 28,404 lots, while positions contracted 1,854 lots to 133,518 lots.

Physical aluminum traded mostly between RMB 13,170-13,180/mt in Shanghai last Friday, a discount of RMB 100-110/mt over the SHFE 1406 aluminum contract. Mainstream traded prices were RMB 13,150-13,160/mt Wuxi and RMB 13,200-13,210/mt in Hangzhou. Cargo holders showed higher willingness to move goods after SHFE aluminum prices went up ahead of the weekend. Downstream producers, however, barely built stocks, and intended to push down traded prices in regions where supply was sufficient. In the afternoon, rising SHFE aluminum prices allowed cargo holders to raise offers to RMB 13,190-13,210/mt, but trading activity petered out.

 


 

SHFE aluminum prices
Shanghai aluminum prices

For queries, please contact Frank LIU at liuxiaolei@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn

Related news