SHFE Aluminum to See Range-Bound Trading (2016-11-3)-Shanghai Metals Market

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SHFE Aluminum to See Range-Bound Trading (2016-11-3)

Price Review & Forecast 09:48:40AM Nov 03, 2016 Source:SMM

SHANGHAI, Nov. 3 (SMM) – The US dollar index kept falling because uncertainty over presidential election, despite Federal Reserve’s hawkish decision. LME aluminum is expected to move between USD 1,710-1,730/mt on Thursday and SHFE 1612 aluminum will move above the 10-day moving average and fluctuate at RMB 13,200-13,350/mt. Market players are expected to take wait-and-see stance with uncertainty over domestic aluminum inventories.

In China’s domestic market, spot aluminum should trade at premiums of RMB 280-320/mt over SHFE 1611 aluminum on Thursday.

Price

more
Aluminum Ingot
Apr.19
14050.0
40.0
(0.29%)
Alumina (Averaged)
Apr.19
2665.0
0.0
(0.00%)
Alumina-East
Apr.19
2680.0
0.0
(0.00%)
Alumina -Central
Apr.19
2670.0
0.0
(0.00%)
Alumina - North
Apr.19
2660.0
0.0
(0.00%)

SHFE Aluminum to See Range-Bound Trading (2016-11-3)

Price Review & Forecast 09:48:40AM Nov 03, 2016 Source:SMM

SHANGHAI, Nov. 3 (SMM) – The US dollar index kept falling because uncertainty over presidential election, despite Federal Reserve’s hawkish decision. LME aluminum is expected to move between USD 1,710-1,730/mt on Thursday and SHFE 1612 aluminum will move above the 10-day moving average and fluctuate at RMB 13,200-13,350/mt. Market players are expected to take wait-and-see stance with uncertainty over domestic aluminum inventories.

In China’s domestic market, spot aluminum should trade at premiums of RMB 280-320/mt over SHFE 1611 aluminum on Thursday.