SMM Aluminum Market Morning Review (2015-9-7)-Shanghai Metals Market

Hot Keywords

  • Copper
  • Zinc
  • Inventory data
  • Macroeconomics
  • Nickel
  • MMi Iron Ore Port Index
  • Aluminium
  • trend forecast
  • Operation update
  • Operating rates
  • Futures movement
  • price
  • Wanbao Minerals
  • Sales data
  • Primary lead

SMM Aluminum Market Morning Review (2015-9-7)

Price Review & Forecast 09:22:56AM Sep 07, 2015 Source:SMM

SHANGHAI, Sept. 7 (SMM) – US non-farm payrolls missed forecasts, but jobless rate hit over 7-year low. LME aluminum fell back after opening higher at USD 1,630/mt last Friday. The light metal ended down USD 15/mt or 0.92% at USD 1,610/mt. Trading volumes were down 5,374 lots to 9,301 lots, and positions were up 3,003 to 837,000. 

SHFE 1511 aluminum should meet strong resistance at moving averages and move between RMB 11,820-11,900/mt on Tuessday. In China’s spot market, growing arrivals after the 3-day holiday will add to supply pressure and leave spot discounts at RMB 60-20/mt over SHFE 1509 aluminum contract.




SMM Aluminum Market Morning Review (2015-9-7)

Price Review & Forecast 09:22:56AM Sep 07, 2015 Source:SMM

SHANGHAI, Sept. 7 (SMM) – US non-farm payrolls missed forecasts, but jobless rate hit over 7-year low. LME aluminum fell back after opening higher at USD 1,630/mt last Friday. The light metal ended down USD 15/mt or 0.92% at USD 1,610/mt. Trading volumes were down 5,374 lots to 9,301 lots, and positions were up 3,003 to 837,000. 

SHFE 1511 aluminum should meet strong resistance at moving averages and move between RMB 11,820-11,900/mt on Tuessday. In China’s spot market, growing arrivals after the 3-day holiday will add to supply pressure and leave spot discounts at RMB 60-20/mt over SHFE 1509 aluminum contract.