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Home / Metal News / LME Aluminum to See Range-Bound Trading (2016-11-14)

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

Nov 14, 2016 10:05

Source:SMM

LME aluminum will swing between USD 1,735-1,760/mt on Monday and SHFE 1701 aluminum will range between RMB 13,700-14,000/mt.

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.

SHFE aluminum

LME aluminum

aluminum prices

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