Home / Metal News / Copper / SMM Aluminum Market Daily Review (2015-4-9)
SMM Aluminum Market Daily Review (2015-4-9)
Apr 10,2015 08:44CST
price review forecast
Source:SMM
SHFE 1506 aluminum contract dived to RMB 13,135/mt due to tumbling crude oil and power tariff cuts after starting Wednesday’s night session at RMB 13,315/mt.
SHANGHAI, Apr. 10 (SMM) –SHFE 1506 aluminum contract dived to RMB 13,135/mt due to tumbling crude oil and power tariff cuts after starting Wednesday’s night session at RMB 13,315/mt, and closed at RMB 13,215/mt. Trading volumes totaled 26,820 lots, with positions up 1,690 to 125,446. 
 
On Thursday, the most active contract dived to RMB 13,050/mt as bears flooded in, but rallied to RMB 13,320/mt later before ending at RMB 13,240/mt. Trading volumes totaled 97,334 lots, with positions down 3,340 to 120,416.  
 
Spot aluminum largely traded between RMB 13,030-13,060/mt in Shanghai on Thursday, discounts of RMB 80-110/mt over SHFE 1504 aluminum contract, versus RMB 13,020-13,040/mt in Wuxi, and RMB 13,040-13,070/mt in Hangzhou. SHFE 1504 aluminum contract lost over 1.5%, sending spot prices down as well. Lower prices lured some traders and processors in. In the afternoon, trading was muted  
 
 
 
SHFE aluminum prices
Shanghai aluminum prices

For queries, please contact Frank LIU at liuxiaolei@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn

Related news