SHFE Aluminum to Stay Firm (2017-3-1)

Published: Mar 1, 2017 09:49

Save

LME aluminum will move at USD 1,910-1,930/mt on Wednesday and SHFE 1704 aluminum will move at RMB 14,000-14,230/mt.

SHANGHAI, Mar. 1 (SMM) – LME aluminum has hit the highest level from mid May 2015 and market players are suggested to wary of technical correction after a rapid rise. The contract will move at USD 1,910-1,930/mt on Wednesday. With nearing of China’s NPC&CPPCC and firm LME aluminum, SHFE 1704 aluminum advanced above RMB 14,000/mt on Tuesday’s night trading and will move at RMB 14,000-14,230/mt on Wednesday.

In China’s domestic market, spot aluminum should trade at discounts of RMB 220-180/mt on Wednesday.

SHFE aluminum LME aluminum aluminum prices

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

15 hours ago

LME Aluminum Inventory Down 0.56% to 440,300 mt on March 17, Drops 8.56% Over Past Month

[SMM Aluminum Flash News] On March 17, LME aluminum inventory stood at 440,300 mt, down 2,500 mt from the previous day, a decrease of 0.56%; over the past week, LME aluminum inventory decreased by a cumulative 12,100 mt, a drop of 2.66%; over the past month, LME aluminum inventory decreased by a cumulative 41,200 mt, a decline of 8.56%.

15 hours ago

The aluminum ingot market showed a mild recovery, while aluminum billet processing fees remained under pressure [SMM South China Spot Aluminum Daily Review]

15 hours ago

16 hours ago

SHFE Cast Aluminum Alloy Warrants Drop to 53,078 MT, Down 362 MT from Previous Day

[SMM Flash News] SHFE data showed that as of March 17, the total registered volume of cast aluminum alloy warrants was 53,078 mt, a decrease of 362 mt from the previous trading day. By region, the total registered volumes were Shanghai (4,508 mt, down 92 mt), Guangdong (18,792 mt, down 300 mt), Jiangsu (6,818 mt, up 392 mt), Zhejiang (17,338 mt, down 332 mt), Chongqing (4,114 mt, unchanged), and Sichuan (1,508 mt, down 30 mt).

16 hours ago