LME Aluminum Sets for Gains (2016-11-9)-Shanghai Metals Market

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LME Aluminum Sets for Gains (2016-11-9)

Price Review & Forecast 10:02:40AM Nov 09, 2016 Source:SMM

SHANGHAI, Nov. 9 (SMM) – Attention should be on impact on prices from US presidential election on Wednesday and LME aluminum is predicted to move at USD 1,715-1,740/mt. Base metals will rise across the board on Wednesday. Snowfall in northwest China supports spot aluminum prices. SHFE 1701 aluminum is expected to range between RMB 13,500-13,700/mt on Wednesday.

In China’s domestic market, spot aluminum should increase by RMB 100/mt to RMB 16,650-16,800/mt on Wednesday.

Price

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Aluminum Ingot
Apr.22
14130.0
80.0
(0.57%)
Alumina (Averaged)
Apr.22
2675.0
10.0
(0.38%)
Alumina-East
Apr.22
2690.0
10.0
(0.37%)
Alumina -Central
Apr.22
2680.0
10.0
(0.37%)
Alumina - North
Apr.22
2670.0
10.0
(0.38%)

LME Aluminum Sets for Gains (2016-11-9)

Price Review & Forecast 10:02:40AM Nov 09, 2016 Source:SMM

SHANGHAI, Nov. 9 (SMM) – Attention should be on impact on prices from US presidential election on Wednesday and LME aluminum is predicted to move at USD 1,715-1,740/mt. Base metals will rise across the board on Wednesday. Snowfall in northwest China supports spot aluminum prices. SHFE 1701 aluminum is expected to range between RMB 13,500-13,700/mt on Wednesday.

In China’s domestic market, spot aluminum should increase by RMB 100/mt to RMB 16,650-16,800/mt on Wednesday.