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

iconJan 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

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