SMM Morning Review - 2010/12/28 Aluminum Market-Shanghai Metals Market

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SMM Morning Review - 2010/12/28 Aluminum Market

SMM Insight 09:17:28AM Dec 28, 2010 Source:SMM

SHANGHAI, Dec. 28 (SMM) -- LME market was closed on Monday for the Christmas holiday. The Federal Reserve planned to resume its plan of USD 600 billion government bond purchases, helping push up the yen and euro, and the US dollar index dipped in response. The US dollar index opened at 80.146, and dipped to a low of 80.135, and finally closed at 80.148, down 0.41%. The US stock markets started trading after the Christmas holiday, and China’s interest rate rise allowed investors to remain cautious, with the Dow Jones Industrial Average closing at 11,555.03 points, down 18.46 points or 0.16%. SHFE aluminum prices opened slightly higher today, and struggled around the 5-day moving average. SMM predicts SHFE 1103 aluminum contact prices will move between RMB 16,650-16,800/mt today. 

 

Copyright © SMM. All Rights Reserved

None of this material may be used for any commercial or public use in any forms or means, without the prior written consent of SMM. For reproduction issue, please contact us by email: service.en@smm.cn

SMM Morning Review - 2010/12/28 Aluminum Market

SMM Insight 09:17:28AM Dec 28, 2010 Source:SMM

SHANGHAI, Dec. 28 (SMM) -- LME market was closed on Monday for the Christmas holiday. The Federal Reserve planned to resume its plan of USD 600 billion government bond purchases, helping push up the yen and euro, and the US dollar index dipped in response. The US dollar index opened at 80.146, and dipped to a low of 80.135, and finally closed at 80.148, down 0.41%. The US stock markets started trading after the Christmas holiday, and China’s interest rate rise allowed investors to remain cautious, with the Dow Jones Industrial Average closing at 11,555.03 points, down 18.46 points or 0.16%. SHFE aluminum prices opened slightly higher today, and struggled around the 5-day moving average. SMM predicts SHFE 1103 aluminum contact prices will move between RMB 16,650-16,800/mt today. 

 

Copyright © SMM. All Rights Reserved

None of this material may be used for any commercial or public use in any forms or means, without the prior written consent of SMM. For reproduction issue, please contact us by email: service.en@smm.cn