SHANGHAI, Jul. 7 (SMM) – LME aluminum will range USD 1,932-1,950/mt today due to a weak dollar before release of US non-farm payrolls. SHFE 1709 aluminum will move at RMB 14,150-14,300/mt, finding support from long buying but facing pressure from short selling as market has digested output cuts news.
In east China’s spot aluminum market, spot discounts are expected at RMB 140-100/mt over SHFE 1707 aluminum contract.
Key Macroeconomic Indicators for Base Metal Prices (2017-7-7)
