Home / Metal News / SMM Aluminum Market Morning Review (2014-11-10)

SMM Aluminum Market Morning Review (2014-11-10)

iconNov 10, 2014 09:35
Source:SMM
Three-month aluminum on the London Metal Exchange was range-bounded on mixed economic figures after opening at USD 2,071/mt last Friday.
SHANGHAI, Nov. 10 (SMM) – Three-month aluminum on the London Metal Exchange was range-bounded on mixed economic figures after opening at USD 2,071/mt last Friday. The growth in China’s imports and exports slowed down in October. But US jobless rate hit 6-year low in October, sending the US dollar index down. The light metal fell to USD 2,053/mt at the tail of the session before ending at USD 2,058/mt. Trading volumes were up 331 lots to 14,452 lots, with positions up 8,910 lots to 868,023 lots.     
 
Last Friday night, SHFE 1501 aluminum contract climbed to RMB 13,910/mt after starting at RMB 13,850/mt, and finished the night session at RMB 13,885/mt. Trading volumes totaled 31,832 lots, with positions up 270 lots to 151,916 lots.  
 
The most active SHFE aluminum contract should move between RMB 13,870-13,900/mt on Monday. In China’s spot market, spot aluminum is expected to trade at discounts of RMB 50-90/mt over SHFE 1411 aluminum contract.  
 
 
                      
 
 
LME aluminum prices
SHFE aluminum prices

For queries, please contact Michael Jiang at michaeljiang@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn

Related news