LME Aluminum to Trade in Tight Range (2017-5-2)

Published: May 2, 2017 09:42

Save

LME aluminum should move between USD 1,908-1,935/mt today, hovering around the 40-day moving average.

SHANGHAI, May 2 (SMM) – LME aluminum should move between USD 1,908-1,935/mt today, hovering around the 40-day moving average. SHFE 1706 aluminum will move at RMB 14,000-14,200/mt, testing support at RMB 14,000/mt.

In east China’s spot aluminum market, spot discounts of RMB 140-100/mt are expected over SHFE 1705 aluminum contract.

Key Macroeconomic Indicators for Base Metal Prices (2017-5-2)

SHFE aluminum prices aluminum prices Al price base metal price forecast

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

12 mins ago

Vedanta Boosts Billet Production to 830 KTPA at Jharsuguda, Becomes Top Global Producer

[SMM Aluminum Express News] Vedanta Aluminium has scaled up billet production at its Jharsuguda facility (Odisha, India), the world's largest aluminum plant—to 830 KTPA by commissioning an additional 250 KTPA (on existing 580 KTPA). This positions it among the world's largest billet producers, enhancing value-added supply for domestic and global customers. Billets (5–12 inch diameters) feed extrusion for infrastructure, transport, renewables, electrical, consumer goods, and packaging. The company also added new 120 KTPA Primary Foundry Alloy (PFA) facility.

12 mins ago

18 mins ago

Ghana's VALCO Seeks Strategic Investor to Overcome $400M Debt and Revive Operations

[SMM Aluminum Express News] Ghana's GIADEC CEO Reindorf Twumasi Ankrah stated that VALCO (Volta Aluminium Company) needs a strategic investor to overcome severe financial distress. Key details: Debt: ~$400 million Current valuation: ~$130 million Shut down: 2022–2023 due to financial issues Goal: Attract investment to restore profitability and ensure long-term sustainability The government aims to revive VALCO as part of Ghana's integrated aluminum industry development, leveraging local bauxite resources.

18 mins ago

56 mins ago

Surge in Prices of Key Metals Intensifies Cost Pressure on NEV Traction Motors and OEMs【SMM Analysis】

56 mins ago