SMM Aluminum Market Daily Review (2015-3-20)

Published: Mar 23, 2015 09:30

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SHFE 1505 aluminum contract rose to RMB 13,400/mt after starting last Thursday’s night session at RMB 13,300/mt, and ended at RMB 13,360/mt.

SHANGHAI, Mar. 23 (SMM) –SHFE 1505 aluminum contract rose to RMB 13,400/mt after starting last Thursday’s night session at RMB 13,300/mt, and ended at RMB 13,360/mt. Trading volumes totaled 17,140 lots, with positions down 1,396 to 107,754.

Last Friday, June aluminum on the SHFE became the most active one. The contract dropped to RMB 13,255/mt as bulls exited, and finished at RMB 13,265/mt. Trading volumes totaled 54,718 lots, with positions up 8,278 to 110,252.

Spot aluminum largely traded between RMB 13,060-13,070/mt in Shanghai last Friday, discounts of RMB 240-260/mt over SHFE 1504 aluminum contract, versus RMB 13,050-13,070/mt in Wuxi, and RMB 13,090-13,120/mt in Hangzhou. SHFE 1504 aluminum contract hit new high, and demand picked up ahead of the weekend. These positive factors allowed suppliers to demand higher prices. In the afternoon, hedged goods flowed in after SHFE front-month contract fell back, but trading was subdued.

SHFE aluminum prices Shanghai aluminum prices

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