Home / Metal News /  / SMM Aluminum Market Morning Review (2015-11-10)
SMM Aluminum Market Morning Review (2015-11-10)
Nov 10,2015 10:43CST
price review forecast
Source:SMM
The US dollar index hovered around 99 due to growing expectations for US rate hike in December.

SHANGHAI, Nov. 10 (SMM) – The US dollar index hovered around 99 due to growing expectations for US rate hike in December. This caused LME aluminum to drift lower after opening at USD 1,523/mt on Monday. LME aluminum ended down USD 19.5/mt or 1.25% at USD 1,504/mt. Trading volumes were down 6,461 lots to 13,117 lots, and positions were up 10,934 to 824,000.   

On Monday night, SHFE 1601 aluminum dropped to RMB 10,450/mt after opening at RMB 10,540/mt due to entry of shorts. The most active contract should range RMB 10,400-10,500/mt on Tuesday. In China’s spot market, buying will remain poor. Spot discounts are expected at RMB 130-90/mt over SHFE 1511 aluminum contract.  


   


Al price
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