SHANGHAIM, Jul. 13 (SMM) – LME aluminum fell below the 20-day moving average on Wednesday’s nigh trading. Rising LME aluminum inventory showed weakening demand in foreign market, weighing down LME aluminum. The contract will keep falling to USD 1,880-1,900/mt on Thursday and SHFE 1709 aluminum will fluctuate between RMB 14,150-14,300/mt.
In China’s domestic market, spot aluminum should trade at discounts of RMB 100-60/mt.