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Aluminum Market Morning Review (2015-1-13)

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Crude oil refreshed 6-year low overnight, souring commodity market sentiment. Hence, LME aluminum dropped to USD 1,798/mt before closing Monday at USD 1,814/mt. Trading volumes decreased 2,333 lots to 13,179 lots, with positions up 660 to 800,374. 
On Monday night, SHFE 1503 aluminum contract started lower at RMB 12,705/mt, and finished the night session at RMB 12,735/mt. Trading volumes totaled 17,560 lots, with positions up 1,484 to 163,642.

With market sentiment soured by tumbling crude oil, the most active SHFE aluminum contract should move between RMB 12,700-12,780/mt on Tuesday. In China’s spot market, sellers will become more willing to sell, with spot discounts of RMB 0-30/mt and premiums of RMB 0-10/mt expected over SHFE 1501 aluminum contract.

Zhejiang Yaang Pipe Industry Co., Limited

Article Categories:
Aluminum · Metals

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