SHFE Aluminum to Face Downward Pressure (2017-7-31)

Published: Jul 31, 2017 09:38

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Despite weak dollar and rising crude oil prices, LME aluminum underperformed other base metals.

SHANGHAI, Jul. 31 (SMM) – Despite weak dollar and rising crude oil prices, LME aluminum underperformed other base metals. LME aluminum should range USD 1,900-1,920/mt today. SHFE 1709 aluminum will correct down to RMB 14,230-14,400/mt due to fading impact from supply side reform.

In east China’s spot aluminum market, spot discounts are expected at RMB 170-130/mt over SHFE 1708 aluminum contract.

Key Macroeconomic Indicators for Base Metal Prices (2017-7-31)

SHFE aluminum prices aluminum prices Al price base metal price forecast

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