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.