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SMM Aluminum Market Morning Review (2013-1-7)
Jan 7, 2013 08:58Source:SMM
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
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