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SMM Aluminum Market Daily Review (2014-8-7)
Aug 8, 2014 08:44CST
Source:SMM
On Wednesday night, SHFE 1410 aluminum contract followed LME aluminum up to RMB 14,155/mt after starting at RMB 14,030/mt, and finished the night session at RMB 14,145/mt.
SHANGHAI, Aug. 8 (SMM) –On Wednesday night, SHFE 1410 aluminum contract followed LME aluminum up to RMB 14,155/mt after starting at RMB 14,030/mt, and finished the night session at RMB 14,145/mt. Trading volumes totaled 68,662 lots, with positions up 6,536 lots to 157,332 lots. 
 
On Thursday, the most active contract fluctuated between RMB 14,105-14,145/mt before closing at RMB 14,085/mt. Trading volumes were up 39,368 lots to 108,030 lots, with positions down 9,412 lots to 147,920 lots.  
 
Spot aluminum largely traded at RMB 14,000-14,020/mt in Shanghai and Wuxi on Thursday, a discount of RMB 20-40/mt over SHFE 1408 aluminum contract, versus RMB 14,010-14,030/mt in Hangzhou. Rising SHFE aluminum pushed spot aluminum up RMB 50-60/mt. Traders showed high buying interest, while downstream producers bought only to need. In the afternoon, trading activity in spot markets waned after August aluminum on SHFE pared gains. 
 
 
 
 
 
 
 
SHFE aluminum prices
Shanghai aluminum prices

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