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SMM Aluminum Market Daily Review (2015-4-3)
Apr 7,2015 09:18CST
price review forecast
Source:SMM
SHFE 1506 aluminum contract hovered above the 5-day moving average after starting last Thursday’s night session at RMB 13,365/mt, and closed at RMB 13,375/mt.
SHANGHAI, Apr. 7 (SMM) –SHFE 1506 aluminum contract hovered above the 5-day moving average after starting last Thursday’s night session at RMB 13,365/mt, and closed at RMB 13,375/mt. Trading volumes totaled 5,178 lots, with positions down 280 to 128,122. 
 
Investors are stayed cautious last Friday since the LME was closed and ahead of the release of US non-farm payrolls. As such, June aluminum on the SHFE moved sideways before ending at RMB 13,375/mt. Trading volumes dropped by 9,902 lots to 17,410 lots, and positions also fell by 2,994 to 125,408.    
Spot aluminum largely traded between RMB 13,280-13,290/mt in Shanghai last Friday, discounts of RMB 110-120/mt over SHFE 1504 aluminum contract, versus RMB 13,270-13,280/mt in Wuxi, and RMB 13,330-13,340/mt in Hangzhou. Suppliers were eager to sell before the upcoming Tomb Sweeping holiday, but traders and processors showed little buying interest. In the afternoon, some went bargain hunting. 
 
 
 
SHFE aluminum prices
Shanghai aluminum prices

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