SMM Aluminum Market Morning Review (2014-6-27)

Jun 27, 2014 09:31

Three-month aluminum on the London Metal Exchange opened at USD 1,900/mt on Thursday.

SHANGHAI, Jun. 27 (SMM) – Three-month aluminum on the London Metal Exchange opened at USD 1,900/mt on Thursday. The light metal slid to USD 1,895.5/mt on disappointing US consumer spending data before ending at USD 1,898/mt. Trading volumes contracted 4,851 lots to 9,454 lots, with positions up 3,021 lots to 897,000 lots.

On Thursday night, SHFE 1409 aluminum contract slipped after starting at RMB 13,580/mt, and finished the night session at RMB 13,555/mt. Trading volumes totaled 14,438 lots, with positions down 70 lots to 141,154 lots.

The most active SHFE aluminum contract should fluctuate between RMB 13,520-13,570/mt on Friday. In China’s physical market, spot discounts of RMB 70-110/mt are expected over SHFE 1407 aluminum contract.

LME aluminum prices

SHFE aluminum prices

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SMM Aluminum Market Morning Review (2014-6-27)

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