SMM Aluminum Market Morning Review (2015-9-30)

SHANGHAI, Sept. 30 (SMM) –LME aluminum slid to USD 1,542/mt after opening at USD 1,554/mt on Tuesday. LME aluminum rallied to USD 1,568/mt after Glencore’s shares rebounded sharply, ending the day up USD 13/mt or 0.84% at USD 1,567/mt. Trading volumes were down 3,262 lots to 10,598 lots, and positions were up 6,316 to 832,000.

SHFE 1512 aluminum was range-bound between RMB 11,665-11,700/mt during Tuesday’s night session. The most active contract should move at RMB 11,660-11,750/mt on Wednesday. In China’s spot market, trading activity will quiet down on the last trading day before the Chinese holiday, with spot discounts of RMB 0-20/mt and premiums of RMB 0-20/mt  expected over SHFE 1510 aluminum contract.