SHFE Aluminum to Hold at Highs (2017-7-19)

Published: Jul 19, 2017 09:52

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The US will release housing starts and building permits today, which are expected to rise.

SHANGHAI, Jul. 19 (SMM) – The US will release housing starts and building permits today, which are expected to rise. The US dollar index is expected to rebound. LME aluminum found support at USD 1,900/mt and will range USD 1,910-1,940/mt today. SHFE 1709 aluminum will move at highs of RMB 14,300-14,500/mt on big-scale capacity cuts in July.

In east China’s spot aluminum market, spot discounts are expected at RMB 170-150/mt over SHFE 1708 aluminum contract.

Key Macroeconomic Indicators for Base Metal Prices (2017-7-19)

SHFE aluminum prices aluminum prices Al price base metal price forecast

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