SHANGHAI, Mar. 30 (SMM) – LME aluminum increased for 2 days in a row on Wednesday and hit highest level since mid May 2015, showing strong upward strength. US’s GDP is expected to be higher in Q4, allowing LME aluminum to rise. LME aluminum will move between USD 1,945-1,970/mt on Thursday. SHFE 1705 aluminum will challenge the 40-day moving average with firm LME aluminum and will move between RMB 13,700-13,940/mt on Thursday.
In China’s domestic market, spot aluminum should trade at discounts of RMB 180-140/mt on Thursday.