SHANGHAI, Apr. 26 (SMM) -- On Monday, the US Commerce Department announced that new home sales in March rose by 11.1% on a monthly basis to an annual rate of 300,000, better than market expectations. Standard & Poor's cut California's main debt rating to A- and put a negative outlook on its debt rating, causing investors to become cautiously pessimistic. As a result, the US dollar index was mixed and finally closed at 74.098, and NEMEX crude oil prices also fell slightly to USD 111/bbl.

Today, LME aluminum prices opened slightly lower at USD 2,735/mt, and are expected to move between USD 2,700-2,750/mt in view of high crude oil prices. SHFE 1106 aluminum contract prices are expected to fluctuate weakly between RMB 16,650-16,770/mt today, while spot aluminum prices are expected to struggle at RMB 16,600/mt, with slight discounts expected over SHFE current-month aluminum contract prices. Transactions will unlikely improve significantly during the remainder of April.   

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