Stainless Steel Pipe Fittings

Aluminum Market Morning Review (2015-1-12)

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LME aluminum slipped after opening at USD 1,832/mt last Friday, but rebounded to USD 1,847/mt later. Depressed Chinese inflation data in December triggered hopes for interest rate cuts, allowing LME aluminum to rise. Despite strong US non-farm data, the country’s wage figure was depressed, sending the US dollar index down. Growing risk aversion caused LME aluminum to fall to USD 1,808.75/mt before closing at USD 1,817.5/mt. Trading volumes decreased 1,212 lots to 15,512 lots, with positions up 11,603 to 79,714. 
Last Friday night, SHFE 1503 aluminum contract drifted lower after starting at RMB 12,840/mt, and finished the night session at RMB 12,825/mt. Trading volumes totaled 14,478 lots, with positions up 522 to 161,656.

The most active SHFE aluminum contract should fall further to RMB 12,780-12,850/mt on Monday, due to negative technical side and growing risk aversion sentiment. In China’s spot market, spot discounts of RMB 0-10/mt and premiums of RMB 0-40/mt are expected over SHFE 1501 aluminum contract.

Zhejiang Yaang Pipe Industry Co., Limited

Article Categories:
Aluminum · Metals

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