The aluminum trading range for the day is 119.8-121.6. Aluminum dropped tracking weakness in LME prices slipped 0.3 percent to $1,865 a ton as investors turned to equities and oil. Traders are also watching large holdings of aluminum cash contracts and warrants, which could also tighten nearby supplies on the LME market. China might cut aluminum production by as much as 1-1.5 million tons during winter heating season.
Nickel trading range for the day is 579.3-604.7. Nickel prices dropped amid of the concern that the restart of Indonesian nickel ore exports and easing concerns about Philippine nickel ore supply. The new Philippines environment minister said he wants to balance conservation and mining interests, signaling intent to settle a bitter dispute.Philippine President Rodrigo Duterte said the government cannot scrap an existing mining law but added that he wants to implement stricter measures.
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