SHANGHAI, Nov. 14 (SMM) – Market players will see different movement of LME aluminum during Asian and European trading hours. LME aluminum will swing between USD 1,735-1,760/mt on Monday. SHFE 1701 aluminum dived last Friday, waning bullish sentiment, and will range between RMB 13,700-14,000/mt on Monday with longs taking profit at highs. Price gap between SHFE 1701 aluminum and SHFE 1612 aluminum widens to above RMB 1,000/mt.
In China’s market, spot aluminum should trade at discount of RMB 20/mt to premiums of RMB 20/mt on Monday.