LME Aluminum to See Weak Trading (2016-3-23)-Shanghai Metals Market

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LME Aluminum to See Weak Trading (2016-3-23)

Price Review & Forecast 09:33:06AM Mar 23, 2016 Source:SMM

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. 

Key Macroeconomic Indicators for Base Metal Prices (2016-3-23)

LME Aluminum to See Weak Trading (2016-3-23)

Price Review & Forecast 09:33:06AM Mar 23, 2016 Source:SMM

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. 

Key Macroeconomic Indicators for Base Metal Prices (2016-3-23)