05 FEBRUARY 2016Shanghai Metal Market
LME aluminium to extend gains
Edited by : AL CIRCLE
1 min read
The US plans to levy petroleum tax, boding well for crude oil prices. The US dollar index took a hit following dovish speech by US Fed official. Risk aversion will prevail on the last trading day before the holiday. LME aluminium is expected to rise to USD 1,520-1,560/mt today.
SHFE 1604 aluminium should range RMB 10,750-10,900/mt.
In China’s spot aluminium market, spot discounts of RMB 80-50/mt are expected over SHFE 1602 contract.
SHFE 1604 aluminium should range RMB 10,750-10,900/mt.
In China’s spot aluminium market, spot discounts of RMB 80-50/mt are expected over SHFE 1602 contract.
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