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Strong US Dollar to Weigh on LME Aluminum (2016-5-19)
SHANGHAI, May 19 (SMM) – The US dollar index rose above 95 as minutes of the US Fed’s April meeting strengthened expectations for rate hike in June. This will drag LME aluminum down to USD 1,535-15,55/mt on Thursday.
SHFE 1607 aluminum will move at RMB 12,200-12,420/mt.
In China’s spot aluminum market, spot premiums of RMB 10-50/mt are expected over SHFE 1606 aluminum contract.
Key Macroeconomic Indicators for Base Metal Prices (2016-5-19)
Strong US Dollar to Weigh on LME Aluminum (2016-5-19)
SHANGHAI, May 19 (SMM) – The US dollar index rose above 95 as minutes of the US Fed’s April meeting strengthened expectations for rate hike in June. This will drag LME aluminum down to USD 1,535-15,55/mt on Thursday.
SHFE 1607 aluminum will move at RMB 12,200-12,420/mt.
In China’s spot aluminum market, spot premiums of RMB 10-50/mt are expected over SHFE 1606 aluminum contract.
Key Macroeconomic Indicators for Base Metal Prices (2016-5-19)
