LME Aluminum to Move Higher (2017-1-12)

Jan 12, 2017 09:33

LME aluminum will range between USD 1,750-1,770/mt on Thursday and SHFE 1703 aluminum will move at RMB 12,900-13,100/mt.

SHANGHAI, Jan. 12 (SMM) – LME aluminum rose for six days in a row and will keep increasing with strong rising strength. LME aluminum will range between USD 1,750-1,770/mt on Thursday. SHFE 1703 aluminum will hover at highs on Thursday with support from rising ferrous metals and resistance at the 40 and 60-day moving averages. The contract will move at RMB 12,900-13,100/mt on Thursday.

In China’s domestic market, spot aluminum should trade at discounts of RMB 80-40/mt on Thursday.

SHFE aluminum

LME aluminum

aluminum prices

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LME Aluminum to Move Higher (2017-1-12)

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