[Al Price] SMM Aluminum Market Daily Review (2015-8-7)

SHANGHAI, Aug. 10 (SMM) –SHFE 1510 aluminum opened at RMB 11,970/mt last Friday. The contract fell back shortly after rising to RMB 12,000/mt, and dropped further to RMB 11,910/mt in the afternoon. Finally, it ended down RMB 65/mt at RMB 11,960/mt. Trading volumes were up 11,268 lots to 37,040 lots, and positions were up 1,550 lots to 150,000 lots. 

Aluminum prices were mainly between RMB 11,900-11,920/mt in Shanghai last Friday, premiums of RMB 0-20/mt over August aluminum on the SHFE, versus RMB 11,890-11,910/mt in Wuxi and RMB 11,900-11,920/mt in Hangzhou. Sellers asked for premiums earlier in the day, but were forced to cut offers later due to thin trading. In the afternoon, market turned quiet.