SHANGHAI, Mar. 23 (SMM) – LME aluminum should stay weak and range USD 1,490-1,520/mt during Asian trading hours Wednesday.
Crude oil prices will be dampened by stronger-than-expected API crude oil inventories. This bodes ill for aluminum prices. SHFE 1605 aluminum will hover between RMB 11,460-11,540/mt on Mar. 23 and spot discounts of RMB 60-100/mt are expected against SHFE front-month contract.