Home About us News Products Industry&Equipment Contact us
News center Your current position:Home > News center
上海上门按摩

SMM Aluminum Market Morning Review

Author:Site  Source:Network  Click to rate:1315  Post time:2015-07-02

SHANGHAI, Jul. 2 (SMM) –LME aluminum rose above the 20-day moving average to USD 1,736/mt after opening at USD 1,695/mt on Wednesday. Finally, it ended a USD 1,728.5/mt. Trading volumes were up 5,403 lots to 17,104 lots, and positions were up 885 to 874,122. The macro front turned positive. HSBC’s China manufacturing PMI for June missed forecasts, but rose from May’s reading. US ADP employment report, Markit’s US manufacturing PMI and ISM’s US manufacturing index, as well as US building permits were all positive. Greece defaulted, but its premier was ready to accept bailout conditions, easing market sentiment. 
 
On Wednesday night, SHFE 1509 aluminum contract rose to RMB 13,030/mt after opening at RMB 12,555/mt. But the contract fell back to RMB 12,700/mt later before ending the night session at RMB 12,690/mt. Trading volumes totaled 32,558 lots, and positions were down 4,720 lots to 126,834 lots.
 
SHFE 1509 aluminum contract is expected to remain strong between RMB 12,630-12,750/mt on Thursday on possible exit of shorts. In China’s spot market, sellers will hold offers firm, but buyers will continue watching from the sidelines, with spot discounts of RMB 70-110/mt expected over SHFE 1507 aluminum contract.
Copyright @ 2008-2012 Chongqing Lanren Aluminium Co.,Ltd
Address: NO. 23-4 Jinxin Building, Nanping, Nanan District, Chongqing, China