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Home / Metal News / SMM Aluminum Market Morning Review (2015-9-15)

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

Sep 15, 2015 11:20

Source:SMM

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.

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LME aluminum prices

SHFE aluminum prices

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SHFE 1708 aluminum moved down after opening at RMB 14,090/mt on Tuesday, touching an intraday low of RMB 14,005/mt in the afternoon.

Jul 4, 2017 18:02

SMM Comments

SHFE 1708 Aluminum Drifts Lower (2017-7-4)

LME Aluminum to Struggle around Moving Averages (2017-6-2)

LME aluminum will continue struggling around moving averages and move between USD 1,920-1,940/mt today.

Jun 2, 2017 09:51

SMM Comments

LME Aluminum to Struggle around Moving Averages (2017-6-2)

SHFE 1707 Aluminum Falls Sharply (2017-5-31)

Offshore yuan surged in morning trading, increasing risks of tightening market liquidity in the short term.

May 31, 2017 18:38

SMM Comments

SHFE 1707 Aluminum Falls Sharply (2017-5-31)

SHFE 1707 Aluminum Falls as Longs Withdraw (2017-5-24)

SHFE 1707 aluminum dipped to RMB 13,950/mt due to short selling after opening at RMB 14,055/mt on Wednesday.

May 24, 2017 17:40

SMM Comments

SHFE 1707 Aluminum Falls as Longs Withdraw (2017-5-24)

SHFE 1606 Aluminum Resistant to Declines (2016-4-20)

On Tuesday’s night session, SHFE 1606 aluminum hit RMB 12,115/mt after opening at RMB 12,055/mt, and finally ended at RMB 12,110/mt.

Apr 20, 2016 18:01

SMM Comments

LME Aluminum to Challenge Resistance (2016-4-19)

LME aluminum has climbed above the 5-day moving average on long buying and will challenge USD 1,570/mt on Tuesday, moving in a range of USD 1,550-1,570/mt.

Apr 19, 2016 09:08

SMM Comments

SHFE Aluminum to Gather Strength on Softer Dollar (2016-3-30)

US Fed Chair Yellen’s cautious attitude toward rate hike path will soften the US dollar.

Mar 30, 2016 09:26

SMM Comments

SHFE Aluminum to Hover at Highs (2016-3-3)

SHFE 1605 aluminum has found solid support at the 5-day moving average, and should move highs at RMB 11,300-11,420/mt on Thursday.

Mar 3, 2016 09:17

SMM Comments

LME Aluminum Poised for More Gains Next Week

LME aluminum is on track for gains next week on improved market sentiment, SMM says.

Feb 20, 2016 13:34

SMM Insight

SHFE Aluminum Breaks Through RMB 11,000/mt (2016-2-16)

SHFE 1604 aluminum opened at RMB 10,900/mt on Tuesday.

Feb 16, 2016 16:47

SMM Comments

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

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