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

Published: Sep 10, 2015 09:12

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LME aluminum rose to USD 1,655.5/mt after opening at USD 1,632/mt on Wednesday.

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.

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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