SMM Aluminum Market Daily Review (2014-6-26)

SHANGHAI, Jun. 27 (SMM) – On Wednesday night, SHFE 1409 aluminum contract moved higher after starting at RMB 13,520/mt, and finished the night session at RMB 13,580/mt. Trading volumes totaled 12,152 lots, with positions up 2,208 lots to 133,356 lots. On Thursday, the most active contract hit a session high of RMB 13,595/mt before ending at RMB 13,590/mt. Trading volumes totaled 23,958 lots, with positions up 10,076 lots to 141,224 lots.   

 

Spot aluminum largely traded between RMB 13,340-13,350/mt in Shanghai and Wuxi on Thursday, a discount of RMB 70-80/mt over SHFE 1407 aluminum contract. Mainstream traded prices were RMB 13,360-13,370/mt in Hangzhou. Sellers held offers firm, depressing buying interest. In the afternoon, most sellers held back goods out of optimism after SHFE 1407 aluminum contract lurched higher. Goods offered at RMB 13,360/mt were quickly sold out.