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SHFE Aluminum Draws No Upward Momentum from HSBC Flash China Manufacturing PMI (Oct. 23, 2014)
Oct 23,2014 16:43CST
price review forecast
Source:SMM
On Wednesday night, SHFE 1412 aluminum contract was range-bound after starting at RMB 13,785/mt, and finished the night session at RMB 13,790/mt.
SHANGHAI, Oct. 23 (SMM) – On Wednesday night, SHFE 1412 aluminum contract was range-bound after starting at RMB 13,785/mt, and finished the night session at RMB 13,790/mt. Trading volumes totaled 19,998 lots, with positions down 120 lots to 103,510 lots.      
 
On Thursday, HSBC’s flash China manufacturing PMI for October was better than expected at 50.4. But sub-index hit 5-month low. This sent the most active contract down to RMB 13,725/mt. Prices rebounded to RMB 13,815/mt in the afternoon before closing at RMB 13,790/mt. Trading volumes totaled 34,440 lots, with positions down 3,734 lots to 99,776 lots. Prices are expected to be range-bound for the short term.   
 
 
 
 
 
 
 
   
 
 
SHFE aluminum prices

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