Home / Metal News / Precious Metals / SMM Morning Review - 2012/4/13 Aluminum Market
SMM Morning Review - 2012/4/13 Aluminum Market
Apr 13,2012 09:28CST
smm insight
Source:SMM
The most active SHFE aluminum contract for July delivery is expected to hover between RMB 16,150-16,230/mt.

SHANGHAI, Apr. 13 (SMM) – The successful bond auction by Italy and Fed’s consideration of QE3 as disclosed by New York Fed President had sent LME aluminum above the 10-day moving average to USD 2,126/mt on Thursday. Sell-off at higher prices had eroded most of these gains, however, with the light metal settling up only USD 8/mt or 0.38% at USD 2,106/mt and recording the weakest performance among base metals.

Today’s market focus will be whether the drop in Chinese GDP growth will exceed expectations. LME aluminum is expected test support at USD 2,100/mt and move between USD 2,095-2,140/mt during today’s trading. The most active SHFE aluminum contract for July delivery is expected to hover between RMB 16,150-16,230/mt. Whether it can consolidate above the RMB 16,200/mt mark has yet to be determined by the GDP data. Spot aluminum is expected to continue trading at discounts of RMB 10/mt to premiums of RMB 30/mt as the delivery date nears and amid weak demand and sufficient supply.

aluminum price
aluminum Al
SHFE aluminum
LME aluminum
spot aluminum

For queries, please contact Frank LIU at liuxiaolei@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn

Related news

MOST POPULAR
data analysis
data analysis
data analysis
data analysis
data analysis