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SHFE Aluminum Rebounds on Positive China Manufacturing PMI (May 21, 2015)
May 21,2015 16:32CST
price review forecast
Source:SMM
HSBC’s flash China manufacturing PMI, though still below 50, rose from April to 49.1.

   

SHANGHAI, May 21 (SMM) – HSBC’s flash China manufacturing PMI, though still below 50, rose from April to 49.1 in May. This helped push SHFE 1507 aluminum contract up to RMB 13,225/mt during Thursday’s morning session. The light metal followed other base metals up further to RMB 13,275/mt in the afternoon before ending at RMB 13,245/mt. Trading volumes totaled 16,286 lots, and positions were down 3,200 to 113,198. There is little room for prices to rise further due to strong resistance at the upper end.   
 
 
SHFE aluminum prices

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