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SMM Aluminum Market Daily Review (2015-11-19)

iconNov 20, 2015 10:02
Source:SMM
SHFE 1601 aluminum opened at RMB 9,955/mt on Thursday.

SHANGHAI, Nov. 20 (SMM) –SHFE 1601 aluminum opened at RMB 9,955/mt on Thursday. The contract slumped to RMB 9,780/mt due to profit-taking by longs and entry of shorts. But prices then rallied as some shorts exited, and finally ended at RMB 9,820/mt. Trading volumes totaled 300,096 lots, and positions were up 8,032 to 245,892. Prices are on track for more losses.    

In east China spot aluminum market, downstream producers took a wait-and-see stance after SHFE aluminum fell to RMB 9,930/mt. This forced sellers to cut offers. Prices were mainly between RMB 9,820-9,840/mt in Shanghai on Thursday, discount of RMB 130-110/mt over SHFE 1512 aluminum, versus RMB 9,820-9,840/mt in Wuxi and RMB 9,840-9,830/mt in Hangzhou. In the afternoon, trading was subdued, with only a few deals reported at RMB 9,900/mt. 





Al price
SHFE aluminum prices
Shanghai aluminum prices

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