SHANGHAI, May 25 (SMM) – LME aluminum will move at highs of USD 1,550-1,570/mt on Wednesday, with support at the 5-day and 10-day moving averages.
SHFE 1607 aluminum will test support at the 40-day moving average and will move at RMB 12,170-12,330/mt due to a lack of market confidence.
In China’s spot aluminum market, spot premiums of RMB 10-50/mt are expected over SHFE 1606 aluminum contract.
Key Macroeconomic Indicators for Base Metal Prices (2016-5-25)