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Home / Metal News / SHFE Aluminum to Rise further (2017-9-13)  

SHFE Aluminum to Rise further (2017-9-13)  

iconSep 13, 2017 09:43
LME aluminum reached near previous highs and will not break through previous resistance unless SHFE aluminum rises sharply.

SHANGHAI, Sep. 13 (SMM) –LME aluminum reached near previous highs and will not break through previous resistance unless SHFE aluminum rises sharply. LME aluminum will range USD 2,125-2,148/mt today. Despite caution among longs, SHFE 1711 aluminum will advance further to RMB 16,630-16,820/mt. 

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

  


 

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

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