30 JUNE 2016Shanghai Metals Market
SHFE aluminium to hover at highs
Edited by : AL CIRCLE
1 min read
Strike threat in Norway and falling crude oil supply in Venezuela allowed crude oil prices to stay at highs. LME aluminium has been rising for two consecutive days, nearing last week’s high, and should remain strong at USD 1,625-1,645/mt today.
Tight supply in domestic spot market and strong LME aluminium will allow SHFE 1608 aluminium to hover at highs of RMB 12,350-12,500/mt.
In China’s spot aluminium market, spot premiums of RMB 40-80/mt are expected over SHFE 1607 aluminium contract.
Tight supply in domestic spot market and strong LME aluminium will allow SHFE 1608 aluminium to hover at highs of RMB 12,350-12,500/mt.
In China’s spot aluminium market, spot premiums of RMB 40-80/mt are expected over SHFE 1607 aluminium contract.
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