[Al Price] SMM Aluminum Market Daily Review (2015-7-30)

Published: Jul 31, 2015 08:43

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SHFE 1510 aluminum contract struggled below the daily moving average on Thursday morning.

SHANGHAI, Jul. 31 (SMM) –SHFE 1510 aluminum contract struggled below the daily moving average on Thursday morning. But the contract lost support at the 5-day moving average in afternoon trading to RMB 12,265/mt before ending at RMB 12,275/mt. Trading volumes totaled 23,968 lots, and positions were down 36 lots to 137,668 lots.

Aluminum prices were mainly between RMB 12,130-12,140/mt in Shanghai on Thursday, discounts of RMB 80-90/mt over August aluminum on the SHFE, versus RMB 12,120-12,140/mt in Wuxi and RMB 12,140-12,150/mt in Hangzhou. Some sellers rushed to sell due to high inventories on hand. Downstream consumption was sluggish. Trading was contributed largely by traders. In the afternoon, trading was muted.

Al price SHFE aluminum prices Shanghai aluminum prices

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