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

SHANGHAI, Sept. 14 (SMM) –SHFE 1511 aluminum climbed to RMB 12,060/mt after opening at RMB 12,030/mt last Friday. The most active contract fell back later, but still ended up RMB 35/mt or 0.29% at RMB 12,045/mt. Trading volumes were down 12,588 lots to 24,738 lots, and positions were up 64 lots to 118,000 lots. 

Aluminum prices were mainly between RMB 11,830-11,850/mt in Shanghai last Friday, discounts of RMB 70-50/mt over SHFE 1509 aluminum, versus RMB 11,830-11,850/mt in Wuxi and RMB 11,820-11,840/mt in Hangzhou. Processors replenished stocks before the weekend, and traders were active in buying due to upcoming delivery date of SHFE 1509 aluminum. Trading turned brisk in Shanghai and Wuxi.