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Aluminum Market Morning Review (2015-1-14)

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LME aluminum opened at USD 1,814/mt on Tuesday. LME copperslumped to 5-year low, and crude oil lost as much as 5%. Both factors dragged LME aluminum down to its lowest in over seven months at USD 1,772/mt. However, the light metal followed crude up later before closing at USD 1,785/mt. Trading volumes increased 4,119 lots to 17,298 lots, with positions up 1,678 to 802,052. 
On Tuesday night, SHFE 1503 aluminum contract climbed to RMB 12,755/mt after starting at RMB 12,700/mt, and finished the night session up RMB 25/mt at RMB 12,750/mt. Trading volumes totaled 17,020 lots, with positions down 972 to 159,076.

The most active SHFE aluminum contract should move between RMB 12,700-12,750/mt on Wednesday. In China’s spot market, spot discounts of RMB 0-30/mt and premiums of RMB 0-10/mt are expected over SHFE 1501 aluminum contract.

Zhejiang Yaang Pipe Industry Co., Limited

Article Categories:
Aluminum · Metals

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