SHANGHAI, Mar. 3 (SMM) – LME aluminum declined with rising positions on Thursday’s night trading. The contract will test support at the 5 and 10-day moving averages on Friday and will trade at USD 1,890-1,920/mt. SHFE 1704 aluminum declined sharply on Thursday’s night trading. The contract will rally and test the 5, 10 and 20-day moving averages on Friday. SHFE 1704 aluminum will move between RMB 13,850-14,050/mt.
In China’s domestic market, spot aluminum should trade at discounts of RMB 220-180/mt on Friday.