[Al Price] SMM Aluminum Market Daily Review (2015-7-29)

Published: Jul 30, 2015 09:06

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SHFE 1510 aluminum contract drifted lower after rising to RMB 12,430/mt on Wednesday, due to plunging Chinese stock market and caution before the US Fed’s policy decision.

SHANGHAI, Jul. 30 (SMM) –SHFE 1510 aluminum contract drifted lower after rising to RMB 12,430/mt on Wednesday, due to plunging Chinese stock market and caution before the US Fed’s policy decision. The contract ended the day at RMB 12,345/mt. Trading volumes totaled 38,462 lots, and positions were down 8,264 lots to 137,704 lots.

Aluminum prices were mainly between RMB 12,190-12,210/mt in Shanghai on Wednesday, discounts of RMB 100-90/mt over August aluminum on the SHFE, versus RMB 12,180-12,200/mt in Wuxi and RMB 12,210-12,220/mt in Hangzhou. Spot prices rose at first, but then fell back, tracking SHFE aluminum. Buying cooled after SHFE aluminum drifted lower. In the afternoon, market turned quiet.

Al price SHFE aluminum prices Shanghai aluminum prices

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