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SMM Aluminum Market Morning Review (2015-5-25)
May 25,2015 10:03CST
price review forecast
Source:SMM
The US dollar index soared to 96 on higher-than-expected US core CPI and Fed Chair Yellen’s speech that the US Fed will raise interest rate later this year.

                       

SHANGHAI, May 25 (SMM) –The US dollar index soared to 96 on higher-than-expected US core CPI and Fed Chair Yellen’s speech that the US Fed will raise interest rate later this year. This caused LME aluminum to fall to USD 1,757/mt after opening at USD 1,780/mt last Friday. Finally, LME aluminum ended at USD 1,768/mt. Trading volumes were up 869 lots to 14,447 lots, and positions were up 1,491 to 782,110.         
 
Last Friday night, SHFE 1507 aluminum contract fell to RMB 13,160/mt after starting at RMB 13,190/mt, and ended the night session at RMB 13,190/mt. Trading volumes totaled 5,172 lots, and positions were down 1,042 to 107,578. 
 
SHFE 1507 aluminum contract will consolidate between RMB 13,150-13,200/mt on Monday in the absence of guidance from LME aluminum. In China’s spot market, growing supply and falling demand will cause spot discounts to widen to RMB 130-170/mt over SHFE 1506 aluminum contract.   
            
 
LME aluminum prices
SHFE aluminum prices

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