SMM Aluminum Market Daily Review (2014-9-30)-Shanghai Metals Market

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SMM Aluminum Market Daily Review (2014-9-30)

Price Review & Forecast 09:27:43AM Oct 08, 2014 Source:SMM

SHANGHAI, Oct. 8 (SMM) – SHFE 1412 aluminum contract hovered near RMB 14,100/mt on September 30 after starting at RMB 13,955/mt. The contract dropped to an intraday low of RMB 13,930/mt in the afternoon as investors closed long positions before China’s National Day holiday, but then rebounded to close the day up RMB 80/mt at RMB 14,015/mt. Trading volumes were up 15,848 lots to 65,552 lots, with positions up 5,872 lots to 145,956 lots.

Spot aluminum largely traded at RMB 14,090-14,100/mt in Shanghai on September 30, premiums of RMB 0-10/mt over SHFE 1410 aluminum contract, versus RMB 14,100-14,130/mt in Wuxi and RMB 14,110-14,140/mt in Hangzhou. Trading activity cooled ahead of the weeklong holiday.
 

SMM Aluminum Market Daily Review (2014-9-30)

Price Review & Forecast 09:27:43AM Oct 08, 2014 Source:SMM

SHANGHAI, Oct. 8 (SMM) – SHFE 1412 aluminum contract hovered near RMB 14,100/mt on September 30 after starting at RMB 13,955/mt. The contract dropped to an intraday low of RMB 13,930/mt in the afternoon as investors closed long positions before China’s National Day holiday, but then rebounded to close the day up RMB 80/mt at RMB 14,015/mt. Trading volumes were up 15,848 lots to 65,552 lots, with positions up 5,872 lots to 145,956 lots.

Spot aluminum largely traded at RMB 14,090-14,100/mt in Shanghai on September 30, premiums of RMB 0-10/mt over SHFE 1410 aluminum contract, versus RMB 14,100-14,130/mt in Wuxi and RMB 14,110-14,140/mt in Hangzhou. Trading activity cooled ahead of the weeklong holiday.