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SMM Aluminum Market Morning Review (2015-8-14)

iconAug 14, 2015 09:02
LME aluminum opened at USD 1,586/mt on Thursday.

SHANGHAI, Aug. 14 (SMM) –LME aluminum opened at USD 1,586/mt on Thursday. The light metal climbed to an intraday high of USD 1,593/mt after the US dollar softened, but then fell back to USD 1,569/mt as investors cut bullish bets. Finally, LME aluminum ended down USD 13.5/mt at USD 1,573/mt. Trading volumes were down 6,129 lots to 7,851 lots, and positions were down 11,202 to 870,000. 

SHFE 1510 aluminum has found strong support, and should range RMB 12,080-12,160/mt on Friday. In China’s spot market, sellers will show high selling interest at above RMB 12,000/mt. with delivery date of SHFE front-month contract nearing, 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 exchanges, and relying on SMM's internal database model, for reference only and do not constitute decision-making recommendations.

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