Home / Metal News / Aluminium / SMM Aluminum Market Daily Review (2015-7-1)
SMM Aluminum Market Daily Review (2015-7-1)
Jul 2,2015 08:56CST
price review forecast
Source:SMM
China’s official manufacturing PMI for June was 50.2, and HSBC’s China manufacturing PMI was 49.4 in the same month, both missing forecasts.
SHANGHAI, Jul. 2 (SMM) –China’s official manufacturing PMI for June was 50.2, and HSBC’s China manufacturing PMI was 49.4 in the same month, both missing forecasts. This caused SHFE 1509 aluminum contract to fall to RMB 12,500/mt on Wednesday. Trading volumes totaled 39,706 lots, and positions were up 6,604 lots to 131,554 lots. Prices are expected to remain at current lows in the short term.
 
Spot aluminum largely traded between RMB 12,420-12,430/mt in Shanghai on Wednesday, discounts of RMB 70-80/mt over SHFE 1507 aluminum contract, versus RMB 12,410-12,430/mt in Wuxi, and RMB 12,430-12,450/mt in Hangzhou. Processors and traders showed little buying interest, causing prices to fall. In the afternoon, market turned quiet.  
 
 
 
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