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Home / Metal News / LME Aluminum to Meet Strong Resistance (2016-1-18)

LME Aluminum to Meet Strong Resistance (2016-1-18)

Jan 18, 2016 09:53

Source:SMM

LME aluminum is expected to meet resistance at the 40-day moving average and move at USD 1,458-1,483/mt on Monday

SHANGHAI, Jan. 18 (SMM) –LME aluminum is expected to meet resistance at the 40-day moving average and move at USD 1,458-1,483/mt on Monday.

SHFE 1603 aluminum should consolidate at RMB 10,580-10,750/mt.

See forecast for other base metals, please click: Price Pattern of Stronger Shanghai Prices to Change, SMM Says

In China’s spot market, spot discounts of RMB 0-10/mt and premiums of RMB 0-30/mt are expected over SHFE 1601 contract.

Key Macroeconomic Indicators for Base Metal Prices (2016-1-18)

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