SMM Aluminum Market Daily Review (2015-5-14)

Published: May 15, 2015 09:02

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On Thursday, SHFE 1507 aluminum contract fell below the 20-day moving average to RMB 13,270/mt due to selloffs at highs.

SHANGHAI, May 15 (SMM) –On Thursday, SHFE 1507 aluminum contract fell below the 20-day moving average to RMB 13,270/mt due to selloffs at highs. But prices then rallied before ending at RMB 13,330/mt. Trading volumes totaled 30,664 lots, and positions were down 1,490 to 131,988.

Spot aluminum largely traded between RMB 13,060-13,070/mt in Shanghai on Thursday, discounts of RMB 120-130/mt over SHFE 1505 aluminum contract, versus RMB 13,040-13,050/mt in Wuxi, and RMB 13,060-13,070/mt in Hangzhou. Holders of hedged goods became more willing to sell, but traders showed little buying interest. Processors continued buying only as needed. In the afternoon, trading was muted.

SHFE aluminum prices Shanghai aluminum prices

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