SHFE Aluminum to Meet Downward Pressure (2016-11-11)-Shanghai Metals Market

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SHFE Aluminum to Meet Downward Pressure (2016-11-11)

Price Review & Forecast 09:58:41AM Nov 11, 2016 Source:SMM

SHANGHAI, Nov. 11 (SMM) – Impact from US presidential election reduced. LME aluminum is expected to move between USD 1,760-1,785/mt on Friday. SHFE announced to raise trading margins on Thursday, weighing down base metals. SHFE 1701 aluminum will range at RMB 13,950-14,250/mt on Friday with market wary sentiment.

In China’s domestic market, spot aluminum should trade at premiums of RMB 240-280/mt on Friday.

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%)

SHFE Aluminum to Meet Downward Pressure (2016-11-11)

Price Review & Forecast 09:58:41AM Nov 11, 2016 Source:SMM

SHANGHAI, Nov. 11 (SMM) – Impact from US presidential election reduced. LME aluminum is expected to move between USD 1,760-1,785/mt on Friday. SHFE announced to raise trading margins on Thursday, weighing down base metals. SHFE 1701 aluminum will range at RMB 13,950-14,250/mt on Friday with market wary sentiment.

In China’s domestic market, spot aluminum should trade at premiums of RMB 240-280/mt on Friday.