SHANGHAI, Jul. 24 (SMM) –HSBC’s flash China manufacturing PMI for July hit 15-month low of 48.2. This caused SHFE 1510 aluminum contract to fall to RMB 12,280/mt early on Friday. But the contract returned above the daily moving average later to end at RMB 12,270/mt. Trading volumes totaled 29,574 lots, and positions were up 4,984 lots to 146,574 lots. More losses might lie ahead, given poor market fundamentals and negative PMI.
[Al Price] SHFE Aluminum Fell on Negative China Manufacturing PMI (Jul. 24, 2015)
HSBC’s flash China manufacturing PMI for July hit 15-month low of 48.2.
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