SHANGHAI, Sep. 4 (SMM) –LME aluminum will rise further to USD 2,130-2,155/mt today after hitting highest since February 2013, due to positive KDJ and bullishness in other base metals. Ferrous metals performed well due to fire at three steel plants. Beijing, Tianjin and Hebei began environmental crackdowns. As such, SHFE 1711 aluminum still has room to rise and will range RMB 16,700-17,000/mt today.
In east China’s spot aluminum market, spot discounts are expected at RMB 260-220/mt over SHFE 1709 aluminum contract.