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SMM Aluminum Market Daily Review (2015-4-30)
May 4,2015 09:04CST
price review forecast
Source:SMM
Caution dominated SHFE market on the last trading day before the May Day holiday.

    

SHANGHAI, May 4 (SMM) –Caution dominated SHFE market on the last trading day before the May Day holiday. SHFE 1507 aluminum contract touched RMB 13,370/mt twice, but then fell back. Finally, prices ended at RMB 13,360/mt. Trading volumes were down 18,882 lots to 472,848 lots, and positions were up 2,898 to 145,866. 
 
Spot aluminum largely traded between RMB 13,110-13,130/mt in Shanghai last Thursday, discounts of RMB 170-150/mt over SHFE 1505 aluminum contract, versus RMB 13,100-13,120/mt in Wuxi, and RMB 13,140-13,150/mt in Hangzhou. Oversupply eased since some traders just completed delivery under term contracts. Downstream demand picked up slightly ahead of the three-day holiday. In the afternoon, traders entered the market after SHFE 1505 aluminum contract crawled up, but market turned quiet after SHFE aluminum fell back. 
 
 
 
SHFE aluminum prices
Shanghai aluminum prices

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