Shanghai Metals Market
Shanghai Metals Market Morning Review - 2012/4/27 Aluminum Market
Edited by : AL CIRCLE
1 min read
While US delivered mixed data, LME aluminum closed up USD 18/mt or 0.87% on Thursday as Fed’s decision to keep stimulus as a possible policy direction continued to provide support. Its gains were limited by a drop of 1,521 lots in trading volume to 8,227 lots, though.
Investors would mostly stand on the sidelines on accounts of weakness in global markets and economies this last trading day before Labor Day. SMM expects LME aluminum to move between USD 2,075-2,100/mt during today trading while the most active SHFE aluminum contract hovers between RMB 16,130-16,195/mt. Spot discounts over the current-month SHFE aluminum price are expected to be maintained between negative RMB 10/mt to RMB 30/mt as downstream stocks replenishing interest is weak due to thin production orders and tight cash flow at month’s end.
Investors would mostly stand on the sidelines on accounts of weakness in global markets and economies this last trading day before Labor Day. SMM expects LME aluminum to move between USD 2,075-2,100/mt during today trading while the most active SHFE aluminum contract hovers between RMB 16,130-16,195/mt. Spot discounts over the current-month SHFE aluminum price are expected to be maintained between negative RMB 10/mt to RMB 30/mt as downstream stocks replenishing interest is weak due to thin production orders and tight cash flow at month’s end.
Previous article
Century Aluminum posts narrower-than-expected 1st-quarter loss
Next articleNoranda Aluminum is Among the Companies in the Aluminum Industry With the Lowest Forward P/E Ratio (NOR, CENX, AWC, AA, KALU)
Grow with
AL Circle
