Home / Metal News / Lead / SMM Aluminum Market Daily Review (2015-5-28)
SMM Aluminum Market Daily Review (2015-5-28)
May 29,2015 09:24CST
price review forecast
Source:SMM
SHFE 1508 aluminum contract was range-bound on Thursday and ended the day at RMB 13,175/mt.
SHANGHAI, May 29 (SMM) –SHFE 1508 aluminum contract was range-bound on Thursday and ended the day at RMB 13,175/mt. Trading volumes totaled 33,002 lots, and positions were up 8,676 to 123,802.       
 
Spot aluminum largely traded between RMB 12,920-12,930/mt in Shanghai on Thursday, discounts of RMB 140-150/mt over SHFE 1506 aluminum contract, versus RMB 12,880-12,910/mt in Wuxi, and RMB 12,960-12,980/mt in Hangzhou. Aluminum prices continued falling, leaving sellers unwilling to sell. Some traders just finished delivery under term contracts, reducing market availability. The price decline slowed near lunchtime, so some traders and processors entered the market to make small-scale purchases. In the afternoon, wait-and-see sentiment dominated as SHFE 1506 aluminum contract moved sideways. 
 
 
 
 
 
SHFE aluminum prices
Shanghai aluminum prices

For queries, please contact Frank LIU at liuxiaolei@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn

Related news