SMM Aluminum Market Morning Review (2015-9-15)

Published: Sep 15, 2015 11:20

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LME aluminum opened at USD 1,641/mt on Monday.

SHANGHAI, Sept. 15 (SMM) –LME aluminum opened at USD 1,641/mt on Monday. Falling Chinese stock market caused the light metal to retreat from the 5-day and 10-day moving averages to USD 1,614/mt. Finally, LME aluminum ended down USD 29/mt at USD 1,615/mt. Trading volumes were up 2,314 lots to 10,083 lots, and positions were up 3,993 to 833,000.

SHFE 1511 aluminum tried to touch 10-day moving average on Tuesday morning, and should be range-bound between RMB 11,950-12,000/mt on today. In China’s spot market, spot discounts will narrow to RMB 60-20/mt since delivery of SHFE 1509 aluminum contract is nearing.

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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