Home / Metal News / SMM Aluminum Market Daily Review (2015-10-29)

SMM Aluminum Market Daily Review (2015-10-29)

iconOct 30, 2015 09:38
Source:SMM
SHFE 1601 aluminum opened at RMB 10,345/mt on Thursday.

SHANGHAI, Oct. 30 (SMM) –SHFE 1601 aluminum opened at RMB 10,345/mt on Thursday. The most active contract hit a session low of RMB 10,280/mt, but then recovered earlier losses as shorts withdrew. Finally, the contract ended up RMB 55/mt or 0.53% at RMB 10,345/mt. Trading volumes were up 10,238 lots to 343,000 lots, and positions were down 10,020 to 260,000. Positions of SHFE aluminum index fell 11,748 to 611,000. More shorts have exited with prices falling towards RMB 10,000/mt mark. But a lack of positive news means price volatility will increase.

In east China spot aluminum market, suppliers released more goods into the market after spot discounts shrank. Buyers, on the other hand, showed low buying interest, sending prices down. Prices were mainly between RMB 10,260-10,290/mt in Shanghai, discount of RMB 100-70/mt over SHFE 1511 aluminum, versus RMB 10,250-10,290/mt in Wuxi, and RMB 10,260-10,280/mt in Hangzhou. In the afternoon, only a few deals were done, with prices reported at RMB 10,270-10,280/mt. 





Al price
SHFE aluminum prices
Shanghai aluminum prices

For queries, please contact Michael Jiang at michaeljiang@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn

Related news