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

SHANGHAI, Jun. 30 (SMM) – Last 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. Last Friday, the most active contract moved higher before paring gains, and closed down RMB 30/mt at RMB 13,540/mt. Trading volumes totaled 21,774 lots, with positions up 3,686 lots to 144,910 lots.

 

Spot aluminum largely traded between RMB 13,330-13,360/mt in Shanghai last Friday, a discount of RMB 90-120/mt over SHFE 1407 aluminum contract. Mainstream traded prices were RMB 13,340-13,360/mt in Wuxi, and RMB 13,360-13,380/mt in Hangzhou. Consumption picked up ahead of the weekend, pushing prices up. In the afternoon, offers remained stable, with a few deals being done.