LME Aluminum to See Range-Bound Trading (2016-11-14)-Shanghai Metals Market

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LME Aluminum to See Range-Bound Trading (2016-11-14)

Price Review & Forecast 10:05:45AM Nov 14, 2016 Source:SMM

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.

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 See Range-Bound Trading (2016-11-14)

Price Review & Forecast 10:05:45AM Nov 14, 2016 Source:SMM

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.