SHFE Aluminum to Lack Rising Impetus (2016-3-15)

Published: Mar 15, 2016 09:30

Save

SHFE 1605 aluminum has met resistance at the 5-day and 10-day moving averages, and should move at lows of RMB 11,280-11,380/mt on Tuesday.

SHANGHAI, Mar. 15 (SMM) –SHFE 1605 aluminum has met resistance at the 5-day and 10-day moving averages, and should move at lows of RMB 11,280-11,380/mt on Tuesday.

LME aluminum is expected to move at USD 1,535-1,570/mt, testing support at the 40-day moving average.

In China’s spot aluminum market, spot premiums of RMB 0-40/mt are expected over SHFE front-month aluminum contract.

Key Macroeconomic Indicators for Base Metal Prices (2016-3-15)

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 communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn