LME Aluminum to Face Downward Pressure (2016-8-9)

Published: Aug 9, 2016 09:27

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Upcoming US economic data are expected to be positive, which will strengthen expectations for US rate hike.

SHANGHAI, Aug. 9 (SMM) – Upcoming US economic data are expected to be positive, which will strengthen expectations for US rate hike. This will put downward pressure on LME aluminum, with prices expected at USD 1,630-1,650/mt today.

SHFE 1610 aluminum will move at highs of RMB 12,250-12,400/mt.

In east China’s spot aluminum market, spot premiums of RMB 90-130/mt are expected over SHFE 1608 aluminum contract.

Key Macroeconomic Indicators for Base Metal Prices (2016-8-9)

SHFE aluminum prices aluminum prices Al price base metal price forecast

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