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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

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

aluminum prices

Al price

base metal price forecast

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market exchanges, and relying on SMM's internal database model, for reference only and do not constitute decision-making recommendations.

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LME aluminum will drop to USD 2,080-2,105/mt today on strong bearishness.

Sep 11, 2017 09:46

SMM Comments

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SHFE 1610 Aluminum Jumps on Long Buying (2016-8-19)

On Thursday’s night trading, SHFE 1610 aluminum slid to RMB 12,655/mt after opening at RMB 12,780/mt, ending at RMB 12,680/mt.

Aug 19, 2016 21:23

SMM Comments

Base Metals Get Support from Falling Dollar, SMM Says

Base metal prices on the SHFE are expected to get a boost from weak dollar on Thursday, Shanghai Metals Market foresees.

Aug 18, 2016 09:23

Industry

SHFE Tin to Hold Firm (2016-8-17)

Market will eye minutes of the US Fed’s latest policy meeting. LME tin will test support at USD 18,000/mt.

Aug 17, 2016 09:17

SMM Comments

SHFE Tin to Remain under Downward Pressure (2016-8-4)

It is widely expected that the BOE will cut interest rate during its August meeting. LME tin will test resistance at USD 18,200/mt.

Aug 4, 2016 09:35

SMM Comments

SHFE Aluminum to Face Short Selling (2016-7-22)

SHFE 1609 aluminum will drop to RMB 12,200-12,370/mt as short momentum is growing.

Jul 22, 2016 09:37

SMM Comments

SHFE 1609 Aluminum Ends with Gains (2016-7-13)

On Tuesday’s night trading, SHFE 1609 aluminum fell to RMB 12,515/mt after opening at RMB 12,555/mt. But prices then followed LME aluminum up to RMB 12,650/mt and closed at RMB 12,570/mt.

Jul 13, 2016 17:46

SMM Comments

SHFE 1609 Aluminum Falls Back After Initial Rise (2016-7-6)

On Tuesday’s night trading, SHFE 1609 aluminum rose to RMB 12,550/mt after opening at RMB 12,480/mt.

Jul 6, 2016 17:54

SMM Comments

SHFE Tin to Face Downward Pressure (2016-7-6)

SHFE 1609 tin continued falling during Tuesday’s night session and should move at RMB 115,000-118,000/mt today.

Jul 6, 2016 09:20

SMM Comments

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US market is closed today for the Independence Day.

Jul 4, 2016 09:27

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

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