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Home / Metal News / Strong US Dollar to Weigh on LME Aluminum (2016-5-19)

Strong US Dollar to Weigh on LME Aluminum (2016-5-19)

May 19, 2016 09:18

Source:SMM

The US dollar index rose above 95 as minutes of the US Fed’s April meeting strengthened expectations for rate hike in June.

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)

SHFE aluminum prices

aluminum prices

Al price

base metal price forecast

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SHFE 1708 aluminum moved down after opening at RMB 14,090/mt on Tuesday, touching an intraday low of RMB 14,005/mt in the afternoon.

Jul 4, 2017 18:02

SMM Comments

SHFE 1708 Aluminum Drifts Lower (2017-7-4)

LME Aluminum to Struggle around Moving Averages (2017-6-2)

LME aluminum will continue struggling around moving averages and move between USD 1,920-1,940/mt today.

Jun 2, 2017 09:51

SMM Comments

LME Aluminum to Struggle around Moving Averages (2017-6-2)

SHFE 1707 Aluminum Falls Sharply (2017-5-31)

Offshore yuan surged in morning trading, increasing risks of tightening market liquidity in the short term.

May 31, 2017 18:38

SMM Comments

SHFE 1707 Aluminum Falls Sharply (2017-5-31)

SHFE 1707 Aluminum Falls as Longs Withdraw (2017-5-24)

SHFE 1707 aluminum dipped to RMB 13,950/mt due to short selling after opening at RMB 14,055/mt on Wednesday.

May 24, 2017 17:40

SMM Comments

SHFE 1707 Aluminum Falls as Longs Withdraw (2017-5-24)

SHFE 1606 Aluminum Resistant to Declines (2016-4-20)

On Tuesday’s night session, SHFE 1606 aluminum hit RMB 12,115/mt after opening at RMB 12,055/mt, and finally ended at RMB 12,110/mt.

Apr 20, 2016 18:01

SMM Comments

LME Aluminum to Challenge Resistance (2016-4-19)

LME aluminum has climbed above the 5-day moving average on long buying and will challenge USD 1,570/mt on Tuesday, moving in a range of USD 1,550-1,570/mt.

Apr 19, 2016 09:08

SMM Comments

SHFE Aluminum Ends with Gains (2016-3-31)

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

Key Macroeconomic Indicators for Base Metal Prices (2016-3-25)

UK and US financial markets are closed on Friday because of the Good Friday holiday.

Mar 25, 2016 09:14

SMM Comments

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tin prices, LME tin, SHFE tin

Mar 22, 2016 10:33

SMM Comments

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Strong US Dollar to Weigh on LME Aluminum (2016-5-19)

SMM Events & Webinars

SMM LME Metals Seminar 2025

Li-ION BATTERY China

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