Adv
LANGUAGES
English
Hindi
Spanish
French
German
Chinese_Simplified
Chinese_Traditional
Japanese
Russian
Arabic
Portuguese
Bengali
Italian
Dutch
Greek
Korean
Turkish
Vietnamese
Hebrew
Polish
Ukrainian
Indonesian
Thai
Swedish
Romanian
Hungarian
Czech
Finnish
Danish
Filipino
Malay
Swahili
Tamil
Telugu
Gujarati
Marathi
Kannada
Malayalam
Punjabi
Urdu
13 DECEMBER 2016 AL CIRCLE

LME Aluminium meets resistance, SHFE prices to fluctuate at current range

EDITED BY : DIPANWITA GUPTA 2MINS READ

LME Aluminium met resistance after rising for three consecutive days and closed at US$1,749.50/mt on Monday, December 12. Shanghai Metals Market predicts, the contract will move in the range of US$1,725-1,745/mt on Tuesday.

The market is now looking ahead to the possible interest rate hike in Fed’s December end policy meeting.  Any effect from possible Fed rate hike will be limited to base metals, unless the rate hike unexpectedly shakes global market, analysts believe. This year, base metals price dynamics mainly hinged on China’s demand and capacity restriction this year. The same will continue through 2017 unless any major cutback in Chinese aluminium smelter is announced.

News
In China, aluminium traded on Shanghai Metal Exchange slipped marginally by 0.61 per cent to open at US$1,932/mt on Tuesday, December 13.

Aluminium ingot inventory increased 10,000 mt in China. SHFE 1702 aluminium will likely range between RMB 13,250-13,480/mt with resistance at the 20-day moving average on Monday, says SMM.

Spot aluminium in China’s domestic market is expected to trade at discounts of RMB 60-20/mt on Tuesday.

{googleAdsense}

A series of economic data is to be released today. China’s November investment, consumption and industry production data will be announced today. ZEW Economic Sentiment for Germany in December will also be released. According to SMM, base metal prices on SHFE will keep fluctuating in the current range, or may trade higher, but will not register any sharp fall.

“A series of China’s economic data for November will be released today, and market expects results to be stable, and Shanghai prices will keep fluctuating at current price range,” SMM says. 


Adv
Adv
Adv
Adv
Adv
Adv
Adv
EDITED BY : DIPANWITA GUPTA 2MINS READ

Responses

Adv
Adv
Adv
Loading...
Adv
Adv
Adv
Loading...
Reports VIEW ALL
Loading...
Loading...
Business Leads VIEW ON AL BIZ
Loading...
Adv
Adv
Would you like to be
featured with us?
Loading...

AL Circle: Aluminium Ecosystem App

A proud
ASI member
© 2026 AL Circle. All rights reserved. AL Circle is not responsible for content from external sources.