LME Aluminum to Hold Firm (2017-9-8)

Published: Sep 8, 2017 09:30

Save

LME aluminum will hold firm at USD 2,095-2,120/mt on Friday on technical support and weaker dollar.

SHANGHAI, Sep. 8 (SMM) –LME aluminum will hold firm at USD 2,095-2,120/mt on Friday on technical support and weaker dollar. SHFE 1711 aluminum will find support from stronger yuan, but face pressure from growing panic after continuous declines, and should range RMB 16,000-16,290/mt today.

In east China’s spot aluminum market, spot discounts are expected at RMB 120-80/mt over SHFE 1709 aluminum contract.

SHFE aluminum prices aluminum prices Al price base metal price forecast

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

13 mins ago

China's Secondary Aluminum Ingot Inventory Drops by 170 mt in Major Consumption Areas

[SMM Aluminum Flash] China's secondary aluminum ingot daily inventory in three major consumption areas was reported at 13,394 mt today, down 170 mt from the previous trading day.

13 mins ago

21 mins ago

September peak season destocking supports aluminum prices, macro risks still warrant vigilance [SMM Aluminum Morning Meeting Summary]

[September peak season destocking supports aluminum prices, macro risks still warrant caution] Overall, aluminum prices are expected to consolidate on a strong note in the short term.

21 mins ago

59 mins ago

[The most-traded alumina contract rose on position increases to approach 2,800 yuan/mt; spot alumina remains under slight pressure - SMM Alumina Morning Comment]

59 mins ago