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SHFE Aluminum to Hold at Highs

Author:Site  Source:Network  Click to rate:1612  Post time:2017-07-19

SHANGHAI, Jul. 19 (SMM) – The US will release housing starts and building permits today, which are expected to rise. The US dollar index is expected to rebound. LME aluminum found support at USD 1,900/mt and will range USD 1,910-1,940/mt today. SHFE 1709 aluminum will move at highs of RMB 14,300-14,500/mt on big-scale capacity cuts in July.   

In east China’s spot aluminum market, spot discounts are expected at RMB 170-150/mt over SHFE 1708 aluminum contract. 

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