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Markets will be cautious prior to the announcement of China’s preliminary manufacturing PMI for March. LME aluminum should stagnate near USD 1,940/mt and fluctuate in the band of USD 1,920-1,960/mt on Thursday. SHFE 1306 aluminum contract prices are expected to open at RMB 14,700/mt, with prices between RMB 14,660-14,760/mt. In spot markets, spot aluminum prices should hold firm at RMB 14,500/mt, with spot discounts expected between RMB 60-100/mt. Overall trading will be light.
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