SHANGHAI, Sept. 11 (SMM) – LME aluminum hit 6-week high of $1,655.5 per tonne this past week. Is there room for more gains next week?
Risk aversion before the US Fed’s policy decision will keep LME aluminum in check around $ 1,620 per tonne, SMM says.
SHFE 1511 aluminum will meet resistance at 12,120 yuan per tonne while finding support at the 5-day moving average.
With delivery date of SHFE 1509 aluminum nearing, spot discounts should narrow at first before widening later in the week.
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