LME Aluminum to Struggle (2017-10-11)

Published: Oct 11, 2017 09:20

Save

LME aluminum will continue struggling at the 5-day moving average and move within USD 2,155-2,175/mt today.

SHANGHAI, Oct. 11 (SMM) –LME aluminum will continue struggling at the 5-day moving average and move within USD 2,155-2,175/mt today. SHFE 1712 aluminum will range RMB 16,450-16,650/mt, with resistance at moving averages and support at RMB 16,500/mt.

In east China’s spot aluminum market, spot discounts are expected at RMB 220-180/mt over SHFE 1710 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 to learn 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

1 min ago

China's Jan NEV Wholesale Sales Up 1%, Tesla China Sees 9.3% YoY Growth

According to preliminary statistics from the Passenger Car Association, wholesale sales of passenger new energy vehicles in China are estimated to have reached 900,000 units in January, up 1% YoY. Among them, Tesla China performed strongly, with wholesale sales of 69,129 units, up 9.3% YoY.

1 min ago

2 mins ago

Fed Governor Cook: Tackling Inflation Is Top Priority Amid Economic Uncertainty

Federal Reserve Governor Cook pointed out that bringing the inflation rate back to the target level in the near term is the top priority for the US Fed, which is crucial for maintaining its credibility. Cook also mentioned that the risk of a rise in inflation is currently prominent, and uncertainty in the economic outlook remains high.

2 mins ago

ECB Keeps Interest Rates Steady, Hints at Unchanged Policy Amid Euro Strength Monitoring

The European Central Bank decided to maintain the current benchmark interest rate unchanged, marking the fifth consecutive pause in interest rate cuts since last June. Despite this, the bank has yet to provide clear guidance on the future path of monetary policy, further reinforcing market expectations that monetary policy will remain unchanged in the short term. Meanwhile, policymakers continue to monitor the appreciation of the euro, focusing on assessing its potential impact on the competitiveness of the export sector and inflation trends.

2 mins ago