SMM Aluminum Market Morning Review (2015-1-26)

Jan 26, 2015 09:53

Source:SMM

The US dollar index climbed above 95 following the ECB’s announcement of QE.

SHANGHAI, Jan. 26 (SMM) – The US dollar index climbed above 95 following the ECB’s announcement of QE. As a consequence, LME aluminum dropped to USD 1,827/mt after opening last Friday at USD 1,863/mt. Trading volumes decreased 561 lots to 14,738 lots, with positions up 12,481 to 783,252.

Last Friday night, SHFE 1503 aluminum contract was range-bound after starting at RMB 12,790/mt, and finished the night session at RMB 12,785/mt. Trading volumes totaled 8,102 lots, with positions down 610 to 121,810.

The most active SHFE aluminum contract should move between RMB 12,700-12,780/mt on Monday. In China’s spot market, demand will soften further, with spot discounts of RMB 40-80/mt expected over SHFE 1502 aluminum contract.

LME aluminum prices

SHFE aluminum prices

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market exchanges, and relying on SMM's internal database model, for reference only and do not constitute decision-making recommendations.

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SMM Aluminum Market Morning Review (2015-1-26)

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