关于我们内页广告图
NewsCurrent Location : HomeNewsNews

SMM Aluminum Market Morning Review

Release time:2014-11-28

Nov 28, 2014 01:24 GMT   Source:SMM

 

 

SHANGHAI, Nov. 28 (SMM) – LME aluminum rose to USD 2,075/mt after opening at USD 2,063.3/mt on Thursday. But prices dropped to USD 2,041/mt later as the US dollar index rebounded and crude oil prices tumbled. Finally, LME aluminum ended at USD 2,043/mt.Positions were down 4,835 lots to 839,435 lots.     
 
On Thursday night, SHFE 1502 aluminum contract slid to RMB 13,770/mt after starting at RMB 13,820/mt, and finished the night session at RMB 13,775/mt. Trading volumes totaled 5,200 lots, with positions up 234 lots to 109,816 lots.  
 
Quiet macro front should keep the most active SHFE aluminum contract in check within RMB 13,750-13,800/mt on Friday. In China’s spot market, demand will remain tepid, with spot discounts of RMB 10-50/mt expected over SHFE 1412 aluminum contract.