SMM Aluminum Market Morning Review (2015-9-18)-Shanghai Metals Market

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SMM Aluminum Market Morning Review (2015-9-18)

Price Review & Forecast 09:30:56AM Sep 18, 2015 Source:SMM

SHANGHAI, Sept. 18 (SMM) –LME aluminum fell to USD 1,612/mt on Thursday. But The light metal rebounded to USD 1,636/mt later as the US dollar index fell after the US Fed announced no rate hike in September. Finally, LME aluminum ended up USD 4/mt at USD 1,631/mt. Trading volumes were down 611 lots to 8,944 lots, and positions were up 5,380 to 822,000.

LME aluminum moved lower after a high opening on Friday, indicating that positive impact from the US Fed’s policy decision is fading. SHFE 1511 aluminum should range RMB 11,930-11,200/mt on Friday In China’s spot market, demand might pick up before the weekend, which will narrow spot discounts to RMB 70-30/mt over SHFE 1510 aluminum contract. 


    


SMM Aluminum Market Morning Review (2015-9-18)

Price Review & Forecast 09:30:56AM Sep 18, 2015 Source:SMM

SHANGHAI, Sept. 18 (SMM) –LME aluminum fell to USD 1,612/mt on Thursday. But The light metal rebounded to USD 1,636/mt later as the US dollar index fell after the US Fed announced no rate hike in September. Finally, LME aluminum ended up USD 4/mt at USD 1,631/mt. Trading volumes were down 611 lots to 8,944 lots, and positions were up 5,380 to 822,000.

LME aluminum moved lower after a high opening on Friday, indicating that positive impact from the US Fed’s policy decision is fading. SHFE 1511 aluminum should range RMB 11,930-11,200/mt on Friday In China’s spot market, demand might pick up before the weekend, which will narrow spot discounts to RMB 70-30/mt over SHFE 1510 aluminum contract.