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SHFE Aluminum to Gather Rising Strength (2016-7-11)
Jul 11, 2016 09:42Source:SMM
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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