Strong US Dollar to Pressure LME Aluminum (2016-5-6)-Shanghai Metals Market

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Strong US Dollar to Pressure LME Aluminum (2016-5-6)

Price Review & Forecast 09:28:06AM May 06, 2016 Source:SMM

SHANGHAI, May 6 (SMM) – The US dollar has strengthened due to hawkish speech from US Fed officials. This will keep LME aluminum in check at USD 1,590-1,610/mt on Friday. 

SHFE 1607 aluminum will move at RMB 12,150-12,350/mt. 

In China’s spot aluminum market, spot discounts of RMB 0-20/mt and spot premiums of RMB 0-20/mt are expected over SHFE 1605 aluminum contract.

Key Macroeconomic Indicators for Base Metal Prices (2016-5-6)





Strong US Dollar to Pressure LME Aluminum (2016-5-6)

Price Review & Forecast 09:28:06AM May 06, 2016 Source:SMM

SHANGHAI, May 6 (SMM) – The US dollar has strengthened due to hawkish speech from US Fed officials. This will keep LME aluminum in check at USD 1,590-1,610/mt on Friday. 

SHFE 1607 aluminum will move at RMB 12,150-12,350/mt. 

In China’s spot aluminum market, spot discounts of RMB 0-20/mt and spot premiums of RMB 0-20/mt are expected over SHFE 1605 aluminum contract.

Key Macroeconomic Indicators for Base Metal Prices (2016-5-6)