[Al Price] SMM Aluminum Market Morning Review (2015-8-5)

Published: Aug 5, 2015 09:46

Save

Rebound of Chinese stock market and a softer US dollar allowed LME aluminum to rise to USD 1,626.5/mt on Tuesday.

SHANGHAI, Aug. 5 (SMM) – Rebound of Chinese stock market and a softer US dollar allowed LME aluminum to rise to USD 1,626.5/mt on Tuesday. Finally, LME aluminum ended up USD 5/mt at USD 1,616/mt. US ADP employment report for July and US trade data for June will be eyed.

On Tuesday night, SHFE 1510 aluminum contract drifted lower after opening at RMB 12,165/mt, and finished the night session at RMB 12,155/mt.

LME aluminum has found strong support at USD 1,600/mt, and should move at USD 1,600-1,630/mt on Wednesday. SHFE 1510 aluminum contract might fluctuate between RMB 12,100-12,200/mt on Wednesday. In China’s spot market, spot discounts of RMB 20-40/mt are expected over SHFE 1508 aluminum contract.

Al price LME aluminum prices SHFE aluminum prices

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

4 hours ago

JX Metals President: Semiconductor Demand Surges, Plans to Expand Investment in Chip Materials

4 hours ago

8 hours ago

Data: SHFE, DCE market movement (Mar 30)

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on 30 Mar , 2026

8 hours ago

The Most-Traded BC Copper Contract Closed Up 0.09%, with Macro Uncertainty Keeping Copper Prices on a Fluctuating Trend [SMM BC Copper Commentary]

8 hours ago