16 JUNE 2016Shanghai Metals Market
SHFE 1608 aluminium ends with small loss
Edited by : AL CIRCLE
1 min read
During night trading on Tuesday, June 14, SHFE 1608 aluminum dipped to RMB 11,765/mt after opening at RMB 11,850/mt, and ended at RMB 11,780/mt.
On Wednesday, June 15, SHFE 1608 aluminum rose to RMB 11,880/mt after opening at RMB 11,780/mt. The most active contract ended the day down RMB 40/mt at RMB 11,870/mt. Trading volumes were down 137,000 lots to 118,516 lots, and positions were up 1,360 to 208,330. Strong caution before referendum on UK exit from the EU and US policy meeting will leave SHFE aluminum hovering without direction.
Today i.e. June 16, is delivery date for SHFE 1605 aluminum, whose settlement price was RMB 12,230/mt. Delivery amount for the contract was 33,950 mt.
In another report SMM observed, since the US dollar softened after the US Fed announced not to lift interest rate aluminum prices will go up.
LME aluminum will rise to USD 1,620-1,640/mt and SHFE 1608 aluminum will climb to RMB 11,870-12,000/mt today.
In China’s spot aluminum market, spot premiums of RMB 100-140/mt are expected over SHFE 1607 aluminum contract.
On Wednesday, June 15, SHFE 1608 aluminum rose to RMB 11,880/mt after opening at RMB 11,780/mt. The most active contract ended the day down RMB 40/mt at RMB 11,870/mt. Trading volumes were down 137,000 lots to 118,516 lots, and positions were up 1,360 to 208,330. Strong caution before referendum on UK exit from the EU and US policy meeting will leave SHFE aluminum hovering without direction.
Today i.e. June 16, is delivery date for SHFE 1605 aluminum, whose settlement price was RMB 12,230/mt. Delivery amount for the contract was 33,950 mt.
In another report SMM observed, since the US dollar softened after the US Fed announced not to lift interest rate aluminum prices will go up.
LME aluminum will rise to USD 1,620-1,640/mt and SHFE 1608 aluminum will climb to RMB 11,870-12,000/mt today.
In China’s spot aluminum market, spot premiums of RMB 100-140/mt are expected over SHFE 1607 aluminum contract.
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