Shanghai Metals Market
Shanghai Metals Market Morning Review - 2012/1/18 Aluminum Market
Edited by : AL CIRCLE
1 min read
Better than expected Chinese GDP data, strong performance of the German economy and inspiring Spanish debt sales together overshadowed downgrades of euro zone countries, pulling down the US dollar index and helping the euro rebound. LME aluminum surged 2.52% as a result of above development closing at USD 2,218.5/mt. LME aluminum stocks hit a record high of 5 million mt overnight with the added 39,075 mt.
The latest Chinese economic data is expected to widen gains in European and US stock markets during today’s trading. LME aluminum may climb further and move between USD 2,200-2,250/mt today. The most active SHFE three-month aluminum contract is expected climb slightly and move between RMB 16,300-16,480/mt. Spot discounts over the SHFE current-month aluminum price are expected to expand to RMB 80-180/mt.
The latest Chinese economic data is expected to widen gains in European and US stock markets during today’s trading. LME aluminum may climb further and move between USD 2,200-2,250/mt today. The most active SHFE three-month aluminum contract is expected climb slightly and move between RMB 16,300-16,480/mt. Spot discounts over the SHFE current-month aluminum price are expected to expand to RMB 80-180/mt.
Previous article
CFAC contract paused due to poor economy
Next articleJapan Dec aluminium stocks up 12% month per month
Grow with
AL Circle
_md.webp)
