SHANGHAI, Jan. 6 (SMM) –SHFE 1603 aluminum was stuck between the 5-day and 20-day moving average during Tuesday’s night session, and should move between RMB 10,565-10,785/mt on Wednesday.
LME aluminum is expected to move at USD 1,459-1,494/mt.
See forecast for other base metals, please click: Shanghai to See Bigger Price Divergences, SMM Says
In China’s spot market, spot discounts of RMB 150-110/mt are expected over SHFE 1601 contract.
Key Macroeconomic Indicators for Base Metal Prices (2016-1-6)