LME Aluminum to Strengthen (2016-11-23)-Shanghai Metals Market

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LME Aluminum to Strengthen (2016-11-23)

Price Review & Forecast 09:58:06AM Nov 23, 2016 Source:SMM

SHANGHAI, Nov. 23 (SMM) – LME aluminum opened higher with a full and increased with rising positions on Tuesday, supported by firm SHFE 1701 aluminum. The contract will range between USD 1,750-1,785/mt on Wednesday. SHFE 1702 aluminum, becoming the most actively traded one, approached to the year’s high on Tuesday. SHFE 1702 aluminum is expected to move at RMB 14,200-14,500/mt on Wednesday, with strong rising strength, despite SHFE’s regulations.

In China’s domestic market, spot aluminum should trade at premiums of RMB 300-340/mt on Wednesday.

Price

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Aluminum Ingot
Apr.18
14010.0
40.0
(0.29%)
Alumina (Averaged)
Apr.18
2665.0
19.0
(0.72%)
Alumina-East
Apr.18
2680.0
20.0
(0.75%)
Alumina -Central
Apr.18
2670.0
20.0
(0.75%)
Alumina - North
Apr.18
2660.0
20.0
(0.76%)

LME Aluminum to Strengthen (2016-11-23)

Price Review & Forecast 09:58:06AM Nov 23, 2016 Source:SMM

SHANGHAI, Nov. 23 (SMM) – LME aluminum opened higher with a full and increased with rising positions on Tuesday, supported by firm SHFE 1701 aluminum. The contract will range between USD 1,750-1,785/mt on Wednesday. SHFE 1702 aluminum, becoming the most actively traded one, approached to the year’s high on Tuesday. SHFE 1702 aluminum is expected to move at RMB 14,200-14,500/mt on Wednesday, with strong rising strength, despite SHFE’s regulations.

In China’s domestic market, spot aluminum should trade at premiums of RMB 300-340/mt on Wednesday.