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Home / Metal News / SHFE Aluminum to Face Downward Pressure (2017-7-31)

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

iconJul 31, 2017 09:38
Source:SMM
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

For queries, please contact Michael Jiang at michaeljiang@smm.cn

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