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SMM Aluminum Market Daily Review (2015-5-4)
May 5,2015 09:19CST
price review forecast
Source:SMM
Negative HSBC’s China manufacturing PMI and a lack of guidance from LME aluminum prevented SHFE aluminum from rising sharply.

  

SHANGHAI, May 5 (SMM) – Negative HSBC’s China manufacturing PMI and a lack of guidance from LME aluminum prevented SHFE aluminum from rising sharply. SHFE 1507 aluminum contract rose to RMB 13,465/mt after opening at RMB 13,400/mt. But prices fell to RMB 13,390/mt later before ending Monday at RMB 13,420/mt. Trading volumes totaled 44,714 lots, and positions were up 1,454 to 147,352.
 
Spot aluminum largely traded between RMB 13,180-13,200/mt in Shanghai on Monday, discounts of RMB 160-170/mt over SHFE 1505 aluminum contract, versus RMB 13,160-13,170/mt in Wuxi, and RMB 13,200-13,220/mt in Hangzhou. Restocking activity after the three-day May Day holiday pushed prices up. In the afternoon, sellers held back after SHFE aluminum fell at the tail of the session, leaving trading muted. 
 
 
 
SHFE aluminum prices
Shanghai aluminum prices

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