SMM Aluminum Market Morning Review (2015-8-18)

Published: Aug 18, 2015 10:04

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LME aluminum hovered around USD 1,575/mt after opening at USD 1,580/mt on Monday.

SHANGHAI, Aug. 18 (SMM) –LME aluminum hovered around USD 1,575/mt after opening at USD 1,580/mt on Monday. LME aluminum fell to USD 1,555/mt later in the day on concerns over slowing Chinese economy and speculative selling. Finally, the light metal ended at USD 1,566/mt. Trading volumes were up 2,932 lots to 9,467 lots, and positions were up 4,059 to 885,000. LME aluminum should move at USD 1,550-1,570/mt on Tuesday.

SHFE 1510 aluminum has found solid support at RMB 12,000/mt, and should move at RMB 12,000-12,100/mt. In China’s spot market, ample supply against poor buying will leave spot discounts at RMB 0-40/mt over SHFE 1509 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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