LME Aluminum to Move Higher (2016-11-10)-Shanghai Metals Market

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LME Aluminum to Move Higher (2016-11-10)

Price Review & Forecast 10:14:01AM Nov 10, 2016 Source:SMM

SHANGHAI, Nov. 10 (SMM) – Trump won in US presidential election and US dollar index will drop in a short term. LME aluminum is expected to rise on Thursday and move between USD 1,740-1,770/mt, but markets are suggested to keep wary on a technical decline. SHFE 1701 aluminum will range between RMB 13,850-14,150/mt on Thursday and is expected to challenge RMB 14,000/mt with bullish outlook.

In China’s domestic market, spot aluminum should trade at premiums of RMB 350-390/mt on Thursday.

Price

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Aluminum Ingot
Apr.24
14150.0
-50.0
(-0.35%)
Alumina (Averaged)
Apr.24
2705.0
10.0
(0.37%)
Alumina-East
Apr.24
2710.0
10.0
(0.37%)
Alumina -Central
Apr.24
2710.0
10.0
(0.37%)
Alumina - North
Apr.24
2700.0
10.0
(0.37%)

LME Aluminum to Move Higher (2016-11-10)

Price Review & Forecast 10:14:01AM Nov 10, 2016 Source:SMM

SHANGHAI, Nov. 10 (SMM) – Trump won in US presidential election and US dollar index will drop in a short term. LME aluminum is expected to rise on Thursday and move between USD 1,740-1,770/mt, but markets are suggested to keep wary on a technical decline. SHFE 1701 aluminum will range between RMB 13,850-14,150/mt on Thursday and is expected to challenge RMB 14,000/mt with bullish outlook.

In China’s domestic market, spot aluminum should trade at premiums of RMB 350-390/mt on Thursday.