Author：Site  Source：Original Site  Click to rate：1236  Post time：2014-04-25

Tags: LME aluminum prices,  aluminium circle

SHANGHAI, Apr. 25 (SMM) – LME aluminum opened at USD 1,875/mt on Thursday. Although initial claims for state unemployment benefits in the US increased last week, the country’s durable goods orders rose from a month ago in March. Business activity in Germany remains positive. In this context, the light metal climbed to USD 1,891/mt before closing up USD 7/mt at USD 1,878.5/mt. Trading volumes dropped 197 lots to 10,579 lots, but positions added 1,426 lots to 873,931 lots.

On Thursday night, SHFE 1407 aluminum contract slipped to RMB 13,575/mt after starting at RMB 13,705/mt due to profit taking at highs, and finished the night session at RMB 13,615/mt. Trading volumes totaled 33,842 lots, and positions contracted 584 lots to 33,842 lots.

The most active SHFE aluminum contract is expected to fluctuate between RMB 13,550-13,650/mt on Friday. In China’s physical market, spot discounts of RMB 120-160/mt are expected over SHFE 1405 aluminum contract.

from metal.com