SHFE Aluminum to Rise on Dip-Buying (May 25-29, 2015)

Published: May 25, 2015 10:26

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SHFE 1507 aluminum contract is poised to rise to 13,100-13,250 yuan/tonne in the week beginning May 25, on positive KDJ indicator and dip-buying, Shanghai Metals Market foresees.

SHANGHAI, May 25 (SMM) – SHFE 1507 aluminum contract is poised to rise to 13,100-13,250 yuan per tonne in the week beginning May 25, on positive KDJ indicator and dip-buying, Shanghai Metals Market foresees.

Aluminum prices in China’s spot market might fall, though, since month-end liquidity crunch will hurt buying. Spot aluminum should trade at discounts of 120-170 yuan/tonne over SHFE front-month contract.

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