LME Aluminum to Rise on Positive News (2016-2-4)

Published: Feb 4, 2016 10:16

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Crude oil production cuts will continue cheering market up.

SHANGHAI, Feb. 4 (SMM) – Crude oil production cuts will continue cheering market up. Expectations for US rate hike will weaken on poor US economic data. The ECB is expected to maintain loose monetary policy. LME aluminum is expected to rise to USD 1,510-1,540/mt on Thursday.

SHFE 1604 aluminum should follow LME aluminum up to RMB 10,700-10,820/mt.

See forecast for other base metals, please click: Shanghai Base Metal Price to Keep Firm ahead of Holiday, SMM Says

In China’s spot aluminum market, spot discounts of RMB 80-50/mt are expected over SHFE 1602 contract.

Key Macroeconomic Indicators for Base Metal Prices (2016-2-4)

SHFE aluminum prices aluminum prices Al price base metal price forecast

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