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.