SMM Aluminum Market Morning Review (2015-9-10)

SHANGHAI, Sept. 10 (SMM) –LME aluminum rose to USD 1,655.5/mt after opening at USD 1,632/mt on Wednesday. But the light metal fell back to USD 1,625/mt later before ending down USD 4.5/mt at USD 1,628/mt. Trading volumes were up 2,313 lots to 13,687 lots, and positions were down 6,582 to 838,000. 

SHFE 1511 aluminum jumped to RMB 12,195/mt after opening higher at RMB 12,085/mt during Wednesday’s night session. However, the most active contract pared gained later, hovering around RMB 12,000/mt. Chinese economic data will come under the spotlight today. The most active contract should move at RMB 11,970-12,060/mt on Thursday. In China’s spot market, traders will continue go bargain hunting, with spot discounts of RMB 70-30/mt expected over SHFE 1509 aluminum contract.