SMM Aluminum Market Morning Review (2015-9-1)-Shanghai Metals Market

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SMM Aluminum Market Morning Review (2015-9-1)

Price Review & Forecast 09:19:38AM Sep 01, 2015 Source:SMM

SHANGHAI, Sept. 1 (SMM) –SHFE 1511 aluminum fell to multi-year low of RMB 11,775/mt after opening at RMB 11,900/mt during Monday’s night session. But it recovered some losses after crude oil rose significantly. Finally, the light metal ended at RMB 11,855/mt. 

Today will see the release of offical and Caixinmanufacturing PMI for China. SHFE 1511 aluminum should range RMB 11,800-11,880/mt on Tuesday. In China’s spot market, pre-holiday stocking will narrow spot discounts to RMB 80-40/mt over SHFE 1509 aluminum contract.


   


SMM Aluminum Market Morning Review (2015-9-1)

Price Review & Forecast 09:19:38AM Sep 01, 2015 Source:SMM

SHANGHAI, Sept. 1 (SMM) –SHFE 1511 aluminum fell to multi-year low of RMB 11,775/mt after opening at RMB 11,900/mt during Monday’s night session. But it recovered some losses after crude oil rose significantly. Finally, the light metal ended at RMB 11,855/mt. 

Today will see the release of offical and Caixinmanufacturing PMI for China. SHFE 1511 aluminum should range RMB 11,800-11,880/mt on Tuesday. In China’s spot market, pre-holiday stocking will narrow spot discounts to RMB 80-40/mt over SHFE 1509 aluminum contract.