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)