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Home / Metal News / LME Aluminum to Hover at Highs (2016-11-2)

LME Aluminum to Hover at Highs (2016-11-2)

iconNov 2, 2016 09:46
Source:SMM
LME aluminum is expected to hover at USD 1,715-1,740/mt on Wednesday with mixed factors and SHFE 1612 aluminum will move between RMB 13,900-14,100/mt.

SHANGHAI, Nov. 2 (SMM) – Who will win the US presidential election is not clear yet and US dollar index thus fell, helping commodities price rise. LME aluminum fell on Tuesday’s night trading with positions closing by longs after a seven-day rise and the contract is expected to hover at USD 1,715-1,740/mt on Wednesday with mixed factors. SHFE 1612 aluminum will test RMB 14,000/mt on Wednesday and move between RMB 13,900-14,100/mt, with market players becoming wary.

In China’s domestic market, spot aluminum should trade at premiums of RMB 260-300/mt over SFHE 1611 aluminum on Wednesday.

LME aluminum
SHFE aluminum
aluminum prices

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