Shanghai Metals Market
High premiums expected in China spot aluminum market
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1 min read
In east China’s spot aluminum market, spot premiums of RMB 330-370/mt are expected over SHFE 1610 aluminum contract.
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The US dollar index fell back as the US Fed decided not to raise interest rate. Tight supply in domestic market pushed SHFE aluminum up. As such, LME aluminum will rise to USD 1,580-1,600/mt.
SHFE 1611 aluminum should advance to RMB 12,100-12,300/mt.
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