LME Aluminum to Lose Upward Momentum (2017-7-3)-Shanghai Metals Market

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LME Aluminum to Lose Upward Momentum (2017-7-3)

Price Review & Forecast 09:50:15AM Jul 03, 2017 Source:SMM

SHANGHAI, Jul. 3 (SMM) – LME aluminum will run out of steam and range USD 1,910-1,930/mt today. SHFE 1708 aluminum will move at RMB 13,900-14,070/mt. East Hope is talking with local government over output cuts, but this will not offer sustainable upward momentum to aluminum prices.  

In east China’s spot aluminum market, spot discounts are expected at RMB 150-110/mt over SHFE 1707 aluminum contract.  

Key Macroeconomic Indicators for Base Metal Prices (2017-7-3)

 

LME Aluminum to Lose Upward Momentum (2017-7-3)

Price Review & Forecast 09:50:15AM Jul 03, 2017 Source:SMM

SHANGHAI, Jul. 3 (SMM) – LME aluminum will run out of steam and range USD 1,910-1,930/mt today. SHFE 1708 aluminum will move at RMB 13,900-14,070/mt. East Hope is talking with local government over output cuts, but this will not offer sustainable upward momentum to aluminum prices.  

In east China’s spot aluminum market, spot discounts are expected at RMB 150-110/mt over SHFE 1707 aluminum contract.  

Key Macroeconomic Indicators for Base Metal Prices (2017-7-3)