SMM Aluminum Market Daily Review (2015-5-22)

Published: May 25, 2015 09:17

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SHFE 1507 aluminum contract moved sideways during last Friday’s morning session, but inched down in the afternoon. Finally, the contract ended at RMB 13,215/mt.

SHANGHAI, May 25 (SMM) –SHFE 1507 aluminum contract moved sideways during last Friday’s morning session, but inched down in the afternoon. Finally, the contract ended at RMB 13,215/mt. Trading volumes totaled 19,482 lots, and positions were down 4,578 to 108,620.

Spot aluminum largely traded between RMB 13,030-13,050/mt in Shanghai last Friday, discounts of RMB 150-170/mt over SHFE 1506 aluminum contract, versus RMB 13,020-13,040/mt in Wuxi, and RMB 13,080-13,090/mt in Hangzhou. Suppliers were eager to sell, but processors generally took a wait-and-see stance. Traders also showed little buying interest. In the afternoon, suppliers cut offers to RMB 13,020-13,030/mt after SHFE aluminum fell. But lower prices did not lure buyers in.

SHFE aluminum prices Shanghai aluminum prices

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

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