LME Aluminum to Swing Widely (2017-10-16)

Published: Oct 16, 2017 09:49

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Nonferrous metals will find support from strong ferrous metals and positive Chinese September economic data.

SHANGHAI, Oct. 16 (SMM) – Nonferrous metals will find support from strong ferrous metals and positive Chinese September economic data. LME aluminum will move within USD 2,125-2,155/mt today, while SHFE 1712 aluminum will range RMB 16,450-16,700/mt.

In east China’s spot aluminum market, spot discounts are expected to narrow to RMB 100-60/mt with nearing of delivery of SHFE 1710 aluminum contract.

SHFE aluminum prices aluminum prices Al price base metal price forecast

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