SMM Aluminum Market Daily Review (2015-9-29)-Shanghai Metals Market

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SMM Aluminum Market Daily Review (2015-9-29)

Price Review & Forecast 09:34:05AM Sep 30, 2015 Source:SMM

SHANGHAI, Sept. 30 (SMM) –SHFE 1512 aluminum refreshed a six-year low of RMB 11,610/mt after opening at RMB 11,680/mt on Tuesday. The most active contract recovered some losses later as shorts exited, but still ended down RMB 90/mt or 0.77% at RMB 11,660/mt. Trading volumes were up 23,144 lots to 42,198 lots, and positions were up 1,736 lots to 150,000 lots. Shorts dominated before week-long holiday, and the contract is now moving near the lower end of the Bollinger Bands.

Prices in east China spot aluminum market fell sharply on Tuesday, tracking SHFE aluminum. Prices were mainly between RMB 11,630-11,650/mt in Shanghai, Wuxi and Hangzhou, discounts of RMB 0-10/mt and premiums of RMB 0-10/mt over SHFE 1510 aluminum. Sellers rushed to sell, but most downstream buyers have completed pre-holiday stocking. In the afternoon, trading was light, with prices reported around RMB 11,640/mt. 






SMM Aluminum Market Daily Review (2015-9-29)

Price Review & Forecast 09:34:05AM Sep 30, 2015 Source:SMM

SHANGHAI, Sept. 30 (SMM) –SHFE 1512 aluminum refreshed a six-year low of RMB 11,610/mt after opening at RMB 11,680/mt on Tuesday. The most active contract recovered some losses later as shorts exited, but still ended down RMB 90/mt or 0.77% at RMB 11,660/mt. Trading volumes were up 23,144 lots to 42,198 lots, and positions were up 1,736 lots to 150,000 lots. Shorts dominated before week-long holiday, and the contract is now moving near the lower end of the Bollinger Bands.

Prices in east China spot aluminum market fell sharply on Tuesday, tracking SHFE aluminum. Prices were mainly between RMB 11,630-11,650/mt in Shanghai, Wuxi and Hangzhou, discounts of RMB 0-10/mt and premiums of RMB 0-10/mt over SHFE 1510 aluminum. Sellers rushed to sell, but most downstream buyers have completed pre-holiday stocking. In the afternoon, trading was light, with prices reported around RMB 11,640/mt.