SMM Aluminum Weekly Price Review and Forecast (Apr. 7-10, 2015)

SHANGHAI, Apr. 7 (SMM) – SHFE 1506 aluminum contract fared better than LME aluminum. The most active contract hit RMB 13,420/mt, buoyed up by Chinese government’s relaxation of controls over the housing market. Although the contract dropped below RMB 13,400/mt later in the week, the lower-end of its moving band inched up. In China’s spot market, suppliers continued to hold back goods as strong SHFE aluminum turned them bullish. Traders were active in the market, allowing spot discounts to narrow to around RMB 100/mt.