LME Aluminum to Keep Rising Momentum (2016-11-1)-Shanghai Metals Market

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LME Aluminum to Keep Rising Momentum (2016-11-1)

Price Review & Forecast 10:01:18AM Nov 01, 2016 Source:SMM

SHANGHAI, Nov. (SMM) – LME aluminum rose for seven days in a row and the daily growths were over USD 20/mt continually for two days. LME aluminum is expected to keep increasing and move at USD 1,730-1,750/mt on Tuesday with positions opening by longs and strong rising strength. But, longs are wary with rising social inventory. SHFE 1612 aluminum will hover at highs on Tuesday and move between RMB 14,100-14,300/mt.

In China’s domestic market, spot aluminum should trade at premiums of RMB 330-370/mt over SHFE 1611 aluminum on Tuesday.

LME Aluminum to Keep Rising Momentum (2016-11-1)

Price Review & Forecast 10:01:18AM Nov 01, 2016 Source:SMM

SHANGHAI, Nov. (SMM) – LME aluminum rose for seven days in a row and the daily growths were over USD 20/mt continually for two days. LME aluminum is expected to keep increasing and move at USD 1,730-1,750/mt on Tuesday with positions opening by longs and strong rising strength. But, longs are wary with rising social inventory. SHFE 1612 aluminum will hover at highs on Tuesday and move between RMB 14,100-14,300/mt.

In China’s domestic market, spot aluminum should trade at premiums of RMB 330-370/mt over SHFE 1611 aluminum on Tuesday.