Home / Metal News /  / SMM Aluminum Market Morning Review (2013-4-11)
SMM Aluminum Market Morning Review (2013-4-11)
Apr 11,2013 09:13CST
price review forecast
Source:SMM
China reported trade deficit in March, but metal imports actually fell sharply.

SHANGHAI, Apr. 11 (SMM) – China reported trade deficit in March, but metal imports actually fell sharply. The minutes of the US Federal Reserve (Fed)’s March meeting indicate that FOMC members debated over whether the Fed should slash the scale of asset purchases and bring quantitative easing to an end before the end of this year. This worried investors and helped the US dollar index rebound. LME aluminum dipped to USD 1,900/mt and lacked upward momentum, albeit strong support at the bottom. Finally, LME aluminum ended the day down 0.56% at USD 1,907.8/mt. Latest LME aluminum inventories decreased 250 mt to 5,202,900 mt.

LME aluminum should struggle at USD 1,900/mt on Thursday, with prices between USD 1,880-1,920/mt. SHFE 1306 aluminum contract is expected to open lower at RMB 14,650/mt and move in a RMB 14,600-14,680/mt range. In spot market, spot discounts of RMB 40-80/mt are expected, with overall trading light.  
 
 

latest LME aluminum prices
SHFE aluminum prices

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