SMM Aluminum Market Morning Review (2015-6-26)

Published: Jun 26, 2015 09:28

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LME aluminum slipped to USD 1,706/mt after opening at USD 1,715.5/mt on Thursday.

SHANGHAI, Jun. 26 (SMM) – LME aluminum slipped to USD 1,706/mt after opening at USD 1,715.5/mt on Thursday. The light metal jumped to USD 1,730/mt at the tail of the day before closing at USD 1,723/mt. Trading volumes were up 274 lots to 9,157 lots, and positions were up 492 to 856,933.

On Thursday night, SHFE 1509 aluminum contract opened at RMB 12,755/mt, and ended the night session at RMB 12,750/mt. Trading volumes totaled 9,872 lots, and positions were up 760 to 109,182.

Caution will rule the market before the weekend. SHFE 1509 aluminum contract will continue to hover around short-term moving averages, with prices expected at RMB 12,720-12,770/mt on Friday. In China’s spot market, spot discounts of RMB 80-120/mt are expected over SHFE 1507 aluminum contract.

LME aluminum prices SHFE 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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