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LME Aluminum to Rise on Capacity Elimination Rumor in China (2017-5-4)
May 4,2017 09:46CST
price review forecast
Source: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.

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

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