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

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.