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SMM Aluminum Weekly Price Review and Forecast (Oct. 27-31, 2014)
Oct 28,2014 10:42CST
price review forecast
Source:SMM
SHFE 1412 aluminum contract rose early last week before falling back to fluctuate between RMB 13,640-13,800/mt later.
SHANGHAI, Oct. 28 (SMM) – SHFE 1412 aluminum contract rose early last week before falling back to fluctuate between RMB 13,640-13,800/mt later. Investors closed positions out of bearishness. In China’s spot market, buyers showed little interest out of anticipation that prices would fall. Sellers that had mounting stocks on hand became anxious to sell after SHFE aluminum prices dropped in the second half of the week. This caused spot discounts to enlarge to around RMB 100/mt over SHFE front-month contract. 
 
This coming week, the most active SHFE aluminum contract will remain at current lows of RMB 13,650-13,800/mt due to poor market fundamentals and profit-taking at highs. In China’s physical market, tightening liquidity at the month’s end may cause spot discounts to widen to RMB 100-140/mt over SHFE 1411 aluminum contract. 
 
SHFE aluminum prices
China aluminum prices

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