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Home / Metal News / SHFE Aluminum to See Big Volatility (2016-6-13)

SHFE Aluminum to See Big Volatility (2016-6-13)

Jun 13, 2016 09:21

Source:SMM

China will release money supply for May today.

SHANGHAI, Jun. 13 (SMM) – China will release money supply for May today. Six Chinese aluminum smelters will hold a meeting today to discuss aluminum prices. This will leave SHFE 1608 aluminum moving widely between RMB 11,750-11,970/mt today.

A strong dollar will send LME aluminum down to USD 1,560-1,580/mt.

In China’s spot aluminum market, spot premiums of RMB 0-40/mt are expected over SHFE 1606 aluminum contract.

Key Macroeconomic Indicators for Base Metal Prices (2016-6-13)

SHFE aluminum prices

aluminum prices

Al price

base metal price forecast

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LME aluminum should move at highs of USD 1,950-1,975/mt today.

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LME aluminum will range at USD 1,700-1,720/mt on Tuesday and SHFE 1702 aluminum will move at RMB 12,500-12,720/mt.

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LME aluminum will range between USD 1,702-1,725/mt with negative sentiment on Monday and SHFE 1702 aluminum is expected to move at RMB 12,500-12,960/mt.

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