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Home / Metal News / SMM Aluminum Market Morning Review (2015-9-11)

SMM Aluminum Market Morning Review (2015-9-11)

Sep 11, 2015 09:13

Source:SMM

LME aluminum climbed to USD 1,639/mt after opening at USD 1,626/mt on Thursday.

SHANGHAI, Sept. 11 (SMM) –LME aluminum climbed to USD 1,639/mt after opening at USD 1,626/mt on Thursday. The light metal fell back to USD 1,625/mt, but found strong support at the 5-day moving average, and finally ended up USD 6/mt at USD 1,634/mt. Trading volumes were down 5,701 lots to 7,986 lots, and positions were down 572 to 837,000.

SHFE 1511 aluminum found solid support at RMB 12,000/mt overnight due to entry of longs, and should move at RMB 12,000-12,090/mt on Friday. In China’s spot market, demand will pick up before the weekend, with spot discounts of RMB 70-30/mt expected over SHFE 1509 aluminum contract.

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LME aluminum prices

SHFE aluminum prices

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LME aluminum will stop falling and find support at the 20-day and 40-day moving averages, with prices expected between USD 1,650-1,670/mt today.

Aug 23, 2016 09:35

SMM Comments

SHFE 1610 Aluminum Falls as Longs Exit (2016-8-22)

Last Friday’s night trading, profit-taking by longs sent SHFE 1610 aluminum down to RMB 12,540/mt after opening at RMB 12,600/mt.

Aug 22, 2016 17:08

SMM Comments

SHFE Aluminum to Face Selling Pressure (2016-8-22)

SHFE 1610 aluminum will face pressure from longs to take profit at highs and move at RMB 12,470-12,650/mt today.

Aug 22, 2016 09:27

SMM Comments

LME Aluminum to Face Downward Pressure (2016-8-9)

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Aug 9, 2016 09:27

SMM Comments

55% Chinese Aluminum Smelters See Aluminum Prices Stabilizing This Week, SMM Survey

SMM surveyed 44 Chinese aluminum smelters about their opinions over aluminum price outlook.

Jul 12, 2016 09:52

SMM Comments

LME Aluminum to Face Downward Pressure (2016-7-8)

Positive US ADP employment means US non-farm payrolls will not be bad, which will favor the US dollar.

Jul 8, 2016 09:33

SMM Comments

SHFE Aluminum to Hover at Highs (2016-6-30)

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Jun 30, 2016 09:17

SMM Comments

44% Chinese Aluminum Smelters See Aluminum Prices Fall This Week, SMM Survey

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Jun 7, 2016 10:42

SMM Comments

LME and SHFE Aluminum to Embark Diverging Paths Next Week

Aluminum prices on the LME and SHFE will embark on different paths next week, SMM expects.

May 20, 2016 19:27

SMM Insight

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Oct 21, 2015 09:51

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