SHFE Aluminum to Gather Rising Strength (2016-7-11)

Published: Jul 11, 2016 09:42

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Big possibility of short squeeze will push SHFE 1609 aluminum up to RMB 16,520-16,700/mt on Monday.

SHANGHAI, Jul. 11 (SMM) – Big possibility of short squeeze will push SHFE 1609 aluminum up to RMB 12,520-12,700/mt on Monday.

The US dollar gained favor as US non-farm payrolls hit 8-month high in June. But strong dollar will have little impact on LME aluminum. LME aluminum will move at USD 1,650-1,675/mt.

In China’s spot aluminum market, spot premiums of RMB 30-70/mt are expected over SHFE 1607 aluminum contract.

Key Macroeconomic Indicators for Base Metal Prices (2016-7-11)

SHFE aluminum prices aluminum prices Al price base metal price forecast

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