SMM Aluminum Market Daily Review (2015-7-3)

Published: Jul 6, 2015 08:46

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Last Friday, SHFE 1509 aluminum contract fell to RMB 12,650/mt, but then rebounded to end at RMB 12,675/mt.

SHANGHAI, Jul. 6 (SMM) –Last Friday, SHFE 1509 aluminum contract fell to RMB 12,650/mt, but then rebounded to end at RMB 12,675/mt. Trading volumes totaled 21,954 lots, and positions were up 902 lots to 128,006 lots.

Spot aluminum largely traded between RMB 12,490-12,500/mt in Shanghai last Friday, discounts of RMB 90-100/mt over SHFE 1507 aluminum contract, versus RMB 12,480-12,490/mt in Wuxi, and RMB 12,510-12,520/mt in Hangzhou. Downstream demand picked up before the weekend, but ample supply prevented prices from rising. In the afternoon, sellers held back goods after SHFE aluminum rose, with trading subdued.

SHFE aluminum prices Shanghai aluminum prices

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