SMM Aluminum Market Morning Review (2015-8-13)

Published: Aug 13, 2015 09:13

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LME aluminum opened at USD 1,585/mt on Wednesday.

SHANGHAI, Aug. 13 (SMM) –LME aluminum opened at USD 1,585/mt on Wednesday. The light metal fell to a new six-year low of USD 1,553/mt, but then rallied to USD 1,598/mt as the US dollar softened. Finally, LME aluminum ended down USD 2.5/mt at USD 1,586.5/mt. Trading volumes were down 1,334 lots to 13,980 lots, and positions were up 3,311 to 881,000.

SHFE 1510 aluminum should remain firm at RMB 12,200-12,250/mt on Thursday, supported by a weaker Chinese yuan. In China’s spot market, spot discounts of RMB 0-40/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.

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