LME Aluminum to Fall on Negative News (2016-2-3)

Published: Feb 3, 2016 09:32

Save

Crude oil prices took a hit as hopes for OPEC output cuts fell through.

SHANGHAI, Feb. 3 (SMM) – Crude oil prices took a hit as hopes for OPEC output cuts fell through. Kansas Fed chair made hawkish speech. So, LME aluminum is expected to fall to USD 1,480-1,510/mt on Wednesday.

SHFE 1604 aluminum should move at RMB 10,630-10,700/mt.

See forecast for other base metals, please click: Shanghai Trading to Wane Ahead of Holiday, SMM Says

In China’s spot aluminum market, spot discounts of RMB 50-90/mt are expected over SHFE 1602 contract.

Key Macroeconomic Indicators for Base Metal Prices (2016-2-3)

SHFE aluminum prices aluminum prices Al price base metal price forecast

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn