SMM Aluminum Market Morning Review (2015-6-16)

Published: Jun 16, 2015 10:11

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LME aluminum prices opened at USD 1,740/mt.

SHANGHAI, Jun. 16 (SMM) – LME aluminum prices opened at USD 1,740/mt. With ongoing Greek crisis and a high US dollar index, LME aluminum tumbled below USD 1,740/mt and dipped to USD 1,693/mt. But poor New York Fed’s manufacturing index and industrial output figures weighed on the US dollar index, giving some boost to LME aluminum, which closed at USD 1,715/mt. Trading volumes increased 9,115 to 17,518 lots, and total positions grew 3,961 to 856,650.

SHFE 1508 aluminum contract prices opened at RMB 12,655/mt Monday evening, and edged up to RMB 12,690/mt, then inched lower to close at RMB 12,655/mt. Trading volumes were 10,496 lots, and total positions increased 210 to 128,272.

SHFE 1508 aluminum contract prices should move between RMB 12,600-12,690/mt today with the lack of positive news, with spot discounts of RMB 80-120/mt.

LME aluminum prices

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