LME Aluminum to Post Gains (2016-11-4)-Shanghai Metals Market

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LME Aluminum to Post Gains (2016-11-4)

Price Review & Forecast 09:46:35AM Nov 04, 2016 Source:SMM

SAHNGHAI, Nov. 4 (SMM) – US’s ADP released on Wednesday missed the expectation. US nonfarm payroll report which will issue on Friday is expected to be lower, weighing down US dollar index. SHFE 1612 aluminum keeps rallying after falling to its daily downward limit. LME aluminum is predicted to test USD 1,740/mt on Friday, the highest level in recent time, and move at USD 1,720-1,740/mt. SHFE 1612 aluminum rose with mixed factors on Thursday and will range between RMB 13,400-13,600/mt on Friday.

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

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%)

LME Aluminum to Post Gains (2016-11-4)

Price Review & Forecast 09:46:35AM Nov 04, 2016 Source:SMM

SAHNGHAI, Nov. 4 (SMM) – US’s ADP released on Wednesday missed the expectation. US nonfarm payroll report which will issue on Friday is expected to be lower, weighing down US dollar index. SHFE 1612 aluminum keeps rallying after falling to its daily downward limit. LME aluminum is predicted to test USD 1,740/mt on Friday, the highest level in recent time, and move at USD 1,720-1,740/mt. SHFE 1612 aluminum rose with mixed factors on Thursday and will range between RMB 13,400-13,600/mt on Friday.

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