16 OCTOBER 2015Shanghai Metal Market
SMM aluminum opens at $1,593.5/mt only to end down $16/mt on Oct 15
Edited by : AL CIRCLE
1 min read
LME aluminum hovered around USD 1,595/mt after opening at USD 1,593.5/mt on Thursday, October 15. But LME aluminum fell to USD 1,564/mt later as the US dollar index rose while gold and crude oil prices dropped. Finally, the light metal ended down USD 16/mt or 1% at USD 1,579/mt. Trading volumes were up 4,324 lots to 13,158 lots, and positions were up 7,584 to 834,000.
On Thursday night, SHFE 1512 aluminum opened lower at RMB 11,250/mt due to falling LME aluminum and other base metals. The most active contract should remain weak between RMB 11,200-11,300/mt on Friday on risk aversion before the weekend. In China’s spot market, sellers will rush to sell, and spot discounts will widen to RMB 80-40/mt over SHFE 1511 aluminum contract.
On Thursday night, SHFE 1512 aluminum opened lower at RMB 11,250/mt due to falling LME aluminum and other base metals. The most active contract should remain weak between RMB 11,200-11,300/mt on Friday on risk aversion before the weekend. In China’s spot market, sellers will rush to sell, and spot discounts will widen to RMB 80-40/mt over SHFE 1511 aluminum contract.
Unlock full access – sign up for FREE.
Key benefits
Find exclusive data-driven insights and in-depth analysis
Get our daily newsletter delivered straight to your inbox
Access real-time and historical price trends from global indices
Post and respond to latest business leads
Stay ahead with alerts on learning tools
...and so much more!SIGN UP / LOGIN
Previous article
Mecfor Inc. acquires equipment manufacturer Brochot’s intellectual property
Next articleAluminium gains by 0.1% on spot demand
Grow with
AL Circle
