04 FEBRUARY 2016Shanghai Metal Market
LME aluminium to rise on positive news
Edited by : AL CIRCLE
1 min read
Crude oil production cuts will continue cheering commodities market up. Expectations for US rate hike will weaken on poor US economic data. The ECB is expected to maintain loose monetary policy. LME aluminium is expected to rise to USD 1,510-1,540/mt on Thursday.
SHFE 1604 aluminium should follow LME aluminium up to RMB 10,700-10,820/mt.
In China’s spot aluminium market, spot discounts of RMB 80-50/mt are expected over SHFE 1602 contract.
SHFE 1604 aluminium should follow LME aluminium up to RMB 10,700-10,820/mt.
In China’s spot aluminium market, spot discounts of RMB 80-50/mt are expected over SHFE 1602 contract.
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