SHFE Aluminum Ends with Slim Gains (Aug. 13, 2015)-Shanghai Metals Market

Hot Keywords

  • Inventory data
  • Air pollution
  • Market commentary
  • Production data
  • Macroeconomics
  • Zinc
  • Morning comments
  • Futures movement
  • Aluminium
  • NPI
  • Copper
  • Nickel
  • Nickel ore
  • In the United States
  • trade negotiations

SHFE Aluminum Ends with Slim Gains (Aug. 13, 2015)

Price Review & Forecast 05:27:20PM Aug 13, 2015 Source:SMM

SHANGHAI, Aug. 13 (SMM) – SHFE 1510 aluminum opened flat at RMB 12,225/mt on Thursday. The contract fell to near RMB 12,088/mt as yuan depreciation has been digested by markets. The light metal rebounded later in the day, ending up RMB 5/mt at RMB 12,140/mt. Trading volumes were up 2,730 lots to 52,368 lots, and positions were down 3,716 lots to 141,000 lots. Exit of shorts pushed prices for the light metal up. That said, technical chart shows that prices will lack upward momentum.  






SHFE Aluminum Ends with Slim Gains (Aug. 13, 2015)

Price Review & Forecast 05:27:20PM Aug 13, 2015 Source:SMM

SHANGHAI, Aug. 13 (SMM) – SHFE 1510 aluminum opened flat at RMB 12,225/mt on Thursday. The contract fell to near RMB 12,088/mt as yuan depreciation has been digested by markets. The light metal rebounded later in the day, ending up RMB 5/mt at RMB 12,140/mt. Trading volumes were up 2,730 lots to 52,368 lots, and positions were down 3,716 lots to 141,000 lots. Exit of shorts pushed prices for the light metal up. That said, technical chart shows that prices will lack upward momentum.