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Home / Metal News / LME Aluminum Set for Gains (2016-3-17)

LME Aluminum Set for Gains (2016-3-17)

Mar 17, 2016 09:46

LME aluminum should go up to USD 1,520-1.535/mt during Asian trading hours Thursday.

SHANGHAI, Mar. 17 (SMM) – LME aluminum should go up to USD 1,520-1.535/mt during Asian trading hours Thursday.

US Fed left its Federal fund rate unchanged in March overnight and lowered forecast for its rate hike, supporting commodity prices.

SHFE 1605 aluminum will range RMB 11,240-11,360/mt on Mar. 17 and spot aluminum is expected to trade between discounts of RMB 30/mt and premiums of RMB 10/mt against SHFE front-month contract.

Key Macroeconomic Indicators for Base Metal Prices (2016-3-17)

LME aluminum prices

SHFE aluminum prices

aluminum prices

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

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SHFE 1605 aluminum opened at RMB 11,760/mt on Thursday.

Mar 31, 2016 17:09

SMM Comments

SHFE Aluminum to Gather Strength on Softer Dollar (2016-3-30)

US Fed Chair Yellen’s cautious attitude toward rate hike path will soften the US dollar.

Mar 30, 2016 09:26

SMM Comments

LME Aluminum Poised for More Gains Next Week

LME aluminum is on track for gains next week on improved market sentiment, SMM says.

Feb 20, 2016 13:34

SMM Insight

About 32% of Chinese Aluminum Smelters Bearish toward Aluminum Prices This Week, SMM Survey

About 32% of the 25 Chinese aluminum smelters surveyed by SMM paint a dismal picture of aluminum prices this week.

Jan 19, 2016 10:16

SMM Comments

LME Aluminum to Meet Strong Resistance (2016-1-18)

LME aluminum is expected to meet resistance at the 40-day moving average and move at USD 1,458-1,483/mt on Monday

Jan 18, 2016 09:53

SMM Comments

SHFE Aluminum Falls as Shorts Dominate (2016-1-12)

SHFE 1603 aluminum tumbled to RMB 10,760/mt during Monday’s night session, due to plunging crude oil prices and the PBOC’s intervention in RMB market.

Jan 12, 2016 17:06

SMM Comments

SHFE Aluminum Rises on Alumina Output Cut Rumors (2016-1-11)

SHFE aluminum shot up on Monday due to rumors that a large Chinese alumina producer will shut down.

Jan 11, 2016 17:22

SMM Comments

Chalco Cuts Aluminum Prices This Week After Consecutive Hikes

China Aluminum International Trading Co. (Chalco Trading) cut aluminum prices this past week after price hike for weeks, it said on its WeChat.

Jan 8, 2016 11:07

Reminder

SHFE Aluminum to Gather More Strength (2016-1-8)

SHFE 1603 aluminum bottomed out during Thursday’s night session, and should rise further to RMB 10,520-10,818/mt on Friday.

Jan 8, 2016 09:42

SMM Comments

38% of Chinese Aluminum Smelters Bearish toward Aluminum Prices This Week, SMM Survey

38% of the 42 Chinese aluminum smelters surveyed by SMM are bearish toward this week’s aluminum prices.

Dec 29, 2015 10:15

SMM Comments

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LME Aluminum Set for Gains (2016-3-17)

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