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Home / Metal News / LME Aluminum to Face Technical Downward Correction (2015-12-23)

LME Aluminum to Face Technical Downward Correction (2015-12-23)

Dec 23, 2015 09:57

Source:SMM

LME aluminum will face technical correction and move at USD 1,506-1,514/mt on Wednesday, testing support at the 60-day moving average.

SHANGHAI, Dec. 23 (SMM) –LME aluminum will face technical correction and move at USD 1,506-1,514/mt on Wednesday, testing support at the 60-day moving average.

SHFE 1603 aluminum is expected to move at RMB 10,720-10,830/mt, looking for support at the 5-day moving average.

See forecast for other base metals, please click: LME Market to See Light Trading ahead of Christmas Holiday, SMM Says

Spot discounts in China are expected at RMB 120-80/mt over SHFE 1601 contract.

Key Macroeconomic Indicators for Base Metal Prices (2015-12-23)

SHFE aluminum prices

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