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Home / Metal News / LME Aluminum to Rise on Capacity Elimination Rumor in China (2017-5-4)

LME Aluminum to Rise on Capacity Elimination Rumor in China (2017-5-4)

iconMay 4, 2017 09:46
LME aluminum should challenge the 20-day moving average and rise to USD 1,915-1,940/mt today as rumor is flying that Shandong will crack down on illegal aluminum capacity.

SHANGHAI, May 4 (SMM) – LME aluminum should challenge the 20-day moving average and rise to USD 1,915-1,940/mt today as rumor is flying that Shandong will crack down on illegal aluminum capacity. The rumor will help SHFE 1706 aluminum challenge RMB 14,000/mt mark and move at RMB 13,850-14,100/mt.  

In east China’s spot aluminum market, spot discounts of RMB 90-50/mt are expected over SHFE 1705 aluminum contract.

Key Macroeconomic Indicators for Base Metal Prices (2017-5-4)

 

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 exchanges, and relying on SMM's internal database model, for reference only and do not constitute decision-making recommendations.

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