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[Al] This Week Aluminum Market Forecast
Dec 7, 2009 13:16Source:SMM
SHANGHAI, Dec. 15 (CBI China) -- As LME stocks increased further, aluminum prices inevitably fell, FME aluminum prices were still on the downward trend. At present, LME aluminum prices are likely to rebound technically slightly due to sharp decline before. CBI predicts that this week LME aluminum prices will fluctuate narrowly within the range of USD 1500-1600/mt, and continue to test USD 1500 to search support. After scooped up by the long this week, the prices are difficult to increase further. It is expected that this week SHFE aluminum main contract will fluctuate in the range of RMB 10000-11000/mt. Once LME aluminum prices fell further to break through USD 1500/mt, SHFE aluminum is very likely to finish the era of "million times."
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