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Home / Metal News / LME Aluminum to Face Downward Pressure (2016-7-8)

LME Aluminum to Face Downward Pressure (2016-7-8)

Jul 8, 2016 09:33

Source:SMM

Positive US ADP employment means US non-farm payrolls will not be bad, which will favor the US dollar.

SHANGHAI, Jul. 8 (SMM) – Positive US ADP employment means US non-farm payrolls will not be bad, which will favor the US dollar. This will pile downward pressure on LME aluminum, with prices expected at USD 1,630-1,645/mt.

SHFE 1609 aluminum will move at RMB 12,400-12,500/mt.

In China’s spot aluminum market, spot premiums of RMB 60-100/mt are expected over SHFE 1607 aluminum contract.

Key Macroeconomic Indicators for Base Metal Prices (2016-7-8)

SHFE aluminum prices

aluminum prices

Al price

base metal price forecast

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