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Home / Metal News / SMM Aluminum Market Morning Review (2013-1-7)

SMM Aluminum Market Morning Review (2013-1-7)

iconJan 7, 2013 08:58
Bearish sentiment will continue to dominate the aluminum market.

SHANGHAI, Jan. 7 (SMM) – Bearish sentiment will continue to dominate the aluminum market. LME aluminum should be capped under USD 2,085/mt and fluctuate in a band of USD 2,050-2,085/mt on Monday. The SHFE 1303 aluminum contract is expected to open lower at RMB 15,270/mt, with prices between RMB 15,220-15,320/mt. Trading will gradually resume in spot aluminum market, with spot discounts expected between RMB 50-90/mt. Demand for post-holiday stock replenishment will likely increase trading volumes. 
 

latest LME aluminum prices
current SHFE aluminum prices
Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market exchanges, and relying on SMM's internal database model, for reference only and do not constitute decision-making recommendations.

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