SHFE Aluminum Falls on Depressed Export Data (Apr. 13, 2015)

SHANGHAI, Apr. 13 (SMM) – Last Friday night, SHFE 1506 aluminum contract rose to RMB 13,265/mt after starting at RMB 13,250/mt, and closed the night session at RMB 13,225/mt. Trading volumes totaled 8,946 lots, with positions up 1,456 to 116,446.     

 

China exported just 360,000 mt of unwrought aluminum and aluminum semis in March, affected by rising SHFE aluminum price ratio. This rekindled worries over aluminum demand outlook, sending the most active SHFE aluminum contract all the way down to RMB 13,100/mt on Monday. Finally, the light metal ended at RMB 13,105/mt. More losses are expected since bearishness is growing.