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Home / Metal News / SMM Aluminum Market Daily Review (2014-6-24)

SMM Aluminum Market Daily Review (2014-6-24)

iconJun 25, 2014 09:09
On Monday night, SHFE 1408 aluminum contract climbed to RMB 13,585/mt after starting at RMB 13,560/mt.

SHANGHAI, Jun. 25 (SMM) – On Monday night, SHFE 1408 aluminum contract climbed to RMB 13,585/mt after starting at RMB 13,560/mt. However, the most active contract retreated to RMB 13,520/mt later in the session before finishing at RMB 13,545/mt. Trading volumes totaled 20,902 lots, with positions up 304 lots to 131,086 lots.  On Tuesday, SHFE aluminum for August delivery tumbled to RMB 13,425/mt before closing down RMB 35/mt at RMB 13,480/mt. Trading volumes totaled 33,918 lots, with positions off 6,958 lots to 123,824 lots.  

Spot aluminum largely traded between RMB 13,320-13,330/mt in Shanghai on Tuesday, a discount of RMB 80-90/mt over SHFE 1407 aluminum contract. Mainstream traded prices were RMB 13,320-13,340/mt in Wuxi, and RMB 13,350-13,360/mt in Hangzhou. The pullback in SHFE aluminum prices left suppliers anxious to sell and discouraged buyers from entering the market, sending prices down. In the afternoon, sellers cut offers to RMB 13,310-13,320/mt, with sparse deals reported.
 
 
 
 
 
SHFE aluminum prices
Shanghai aluminum prices
Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market exchanges, and relying on SMM's internal database model, for reference only and do not constitute decision-making recommendations.

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