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

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

Sep 13, 2017 09:43

Source:SMM

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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