SHFE Aluminum Finishes with Losses (2017-3-28)

Published: Mar 28, 2017 17:54

Save

SHFE 1705 aluminum started at RMB 13,680/mt and ended at RMB 13,650/mt.

SHANGHAI, Mar. 28 (SMM) – On Tuesday, SHFE 1705 aluminum started at RMB 13,680/mt and then dipped to RMB 13,540/mt as shorts strengthened. The contract later rallied to RMB 13,705/mt due to shorts taking profits and declined again to RMB 13,615/mt with exit of longs. SHFE 1705 aluminum ended at RMB 13,650/mt. Trading volumes dropped 690 to 327,854 lots and positions fell 17,834 to 287,524. Positions of all SHFE aluminum contracts dropped 20,088 to 709,620.

SHFE 1705 aluminum will keep falling in the foreseeable future but any decline will be limited.

SHFE aluminum LME aluminum aluminum prices

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

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

Related News

3 hours ago

Arconic Breaks Ground on $175M Iowa Plant Expansion for Next-Gen Growth

Groundbreaking Ceremony Held for Alcoa Arconic’s Davenport, Iowa Plant Arconic held a groundbreaking ceremony for a $175 million investment project at its Davenport, Iowa plant. The project will add a state-of-the-art aluminum casting complex to the facility. For company leadership, the No. 10 Pit expansion project represented both growth in the manufacturing business and a long-term commitment to the region. With expanded capacity, advanced technology, and a focus on efficiency and sustainability, Arconic was positioning itself and the local community for the next generation of industrial growth. Once completed, No. 10 Pit will significantly expand casting ingot capacity, increase aluminum scrap recycling, and improve overall energy efficiency.

3 hours ago

Tianshan Aluminum Acquires Stake in Guinean Mining Company, Secures Exclusive Mineral Rights Amid Bauxite Export Rumors

Tianshan Aluminum Acquired a Stake in a Local Mining Company in Guinea and Obtained Exclusive Purchasing Rights to Its Mineral Products An investor asked on the investor interaction platform: Hello, there have recently been rumors that Guinea may restrict bauxite export quotas. Has any branch or subsidiary of Tianshan Aluminum in Guinea received any notice or information related to restrictions on the mining or export of Guinean bauxite? If so, could you disclose the specific details? Thank you! On March 19, Tianshan Aluminum stated on the investor interaction platform that the company had acquired a stake in a local mining company in Guinea and obtained exclusive purchasing rights to its mineral products.

3 hours ago

Emma Swan Appointed New Vice Chair of UK Aluminium Federation, Aiming for Sustainable Growth

Emma Swan, Managing Director of BOAL Extrusion UK, has been appointed the new Vice Chair of the Aluminium Federation (ALFED) in the UK. Ms. Swan brings a wealth of experience, leadership, and passion for the aluminum industry, and her appointment comes at a pivotal time for the industry and the broader UK manufacturing landscape. In her role as Vice Chair, Ms. Swan will work closely with Aluminium Federation Chief Executive Officer Nadine Bloxsome, Chair Wendy Giles of Amari Metals Ltd, and other members of the Federation’s Board to help advance the sustainable development priorities and advocacy interests of its members across the entire aluminum value chain.

3 hours ago