LME Aluminum to Move Higher (2017-3-29)

Published: Mar 29, 2017 09:49

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LME aluminum will move between USD 1,935-1,955/mt and SHFE 1705 aluminum will move at RMB 13,700-13,900/mt.

SHANGHAI, Mar. 29 (SMM) – LME aluminum stabilized on Tuesday’s night trading due to positive US’s consumer sentiment index. Moreover, Libya has suspended oil output and OPEC plans to extend oil output cut, supporting crude oil prices and commodity prices. LME aluminum will test USD 1,950/mt on Wednesday and will move between USD 1,935-1,955/mt. SHFE 1705 aluminum allied with rising LME aluminum on Tuesday’s night trading and will move at RMB 13,700-13,900/mt on Wednesday.

In China’s domestic market, spot aluminum should trade at discounts of RMB 170-130/mt on Wednesday.

SHFE aluminum LME aluminum aluminum prices

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