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SMM Daily Review - 2012/5/4 Base Metals Market

posted May 6, 2012, 9:15 PM by BENKAI Co

Aluminum
The most active SHFE aluminum contract for August delivery opened lower at RMB 16,305/mt and closed down RMB 30/mt or 0.18% at RMB 16,335/mt on Friday, with transacted contracts dropping by half. The contract consolidated at the RMB 16,300/mt mark, however, showing more stability than other base metals.

Spot aluminum traded between RMB 16,150-16,180/mt in Shanghai, at discounts of RMB 0-30/mt over the current-month SHFE aluminum contract. Stock replenishment did not show up ahead of the weekend due to weak demand. Goods holders held quotations at RMB 16,150/mt and deals were done mostly at the low end.

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