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SMM Aluminum Market Daily Review (2015-5-12)
May 13,2015 09:13CST
price review forecast
Source:SMM
On Tuesday, SHFE 1507 aluminum contract drifted lower after opening at RMB 13,450/mt.

  

SHANGHAI, May 13 (SMM) –On Tuesday, SHFE 1507 aluminum contract drifted lower after opening at RMB 13,450/mt. The contract closed at an intraday low of RMB 13,315/mt. Trading volumes totaled 3,918 lots, and positions were down 2,712 to 131,570. Prices might test support at the 20-day moving average since technical side is negative.  
 
Spot aluminum in east China followed SHFE 1505 aluminum contract down on Tuesday. Mainstream traded prices were RMB 13,040-13,060/mt in Shanghai, discounts of RMB 150-170/mt over SHFE 1505 aluminum contract, versus RMB 13,020-13,050/mt in Wuxi, and RMB 13,060-13,070/mt in Hangzhou. Lower prices lured buyers in. In the afternoon, buying cooled due to uncertainty over future price movement. 
 
 
 
SHFE aluminum prices
Shanghai aluminum prices

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