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SMM Aluminum Market Daily Review (2014-10-28)
Oct 29,2014 09:38CST
price review forecast
Source:SMM
SHFE 1501 aluminum contract, the most active one, fell to RMB 13,790/mt on Tuesday, despite positive economic data.
SHANGHAI, Oct. 29 (SMM) – SHFE 1501 aluminum contract, the most active one, fell to RMB 13,790/mt on Tuesday, despite positive economic data, which showed profits at large-scale industrial enterprises in China rose 0.4% YoY in September. Finally, the contract ended at RMB 13,825/mt. Trading volumes totaled 44,412 lots, with positions up 1,408 lots to 137,358 lots. 
 
Spot aluminum largely traded at RMB 13,630-13,640/mt in Shanghai on Tuesday, discounts of RMB 80-90/mt over SHFE 1411 aluminum contract, versus RMB 13,620-13,630/mt in Wuxi and RMB 13,640-13,650/mt in Hangzhou. Rising aluminum prices in Guangdong allowed sellers in east China to demand higher prices. Trading was brisk in the morning. In the afternoon, offers were unchanged, with sparse transactions reported. 
 
 
 
 
 
SHFE aluminum prices
Shanghai aluminum prices

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