SMM Aluminum Market Daily Review (2014-10-29)

Oct 30, 2014 09:39

On Tuesday night, SHFE 1501 aluminum contract started at RMB 13,850/mt, and finished the night session at RMB 13,870/mt.

SHANGHAI, Oct. 30 (SMM) – On Tuesday night, SHFE 1501 aluminum contract started at RMB 13,850/mt, and finished the night session at RMB 13,870/mt. Trading volumes totaled 17,052 lots, with positions up 1,900 lots to 139,258 lots.

On Wednesday, SHFE 1501 aluminum contract dipped to RMB 13,800/mt, but the rebounded to end the day at RMB 13,845/mt. Trading volumes totaled 30,438 lots, with positions down 2,216 lots to 137,042 lots.

Spot aluminum largely traded at RMB 13,620-13,630/mt in Shanghai and Wuxi on Wednesday, discounts of RMB 80-90/mt over SHFE 1411 aluminum contract, versus RMB 13,640-13,650/mt in Hangzhou. Buyers pushed for lower prices, but sellers refused to cut offers, leaving trading muted. In the afternoon, market turned even quieter.

SHFE aluminum prices

Shanghai aluminum prices

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SMM Aluminum Market Daily Review (2014-10-29)

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