SHFE Aluminum to See Wider Trading Range (2016-4-7)

Published: Apr 7, 2016 09:15

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SHFE 1606 aluminum will trade in a wider range of RMB 11,740-11,840/mt on Thursday as game between longs and shorts will become more intense.

SHANGHAI, Apr. 7 (SMM) –SHFE 1606 aluminum will trade in a wider range of RMB 11,740-11,840/mt on Thursday as game between longs and shorts will become more intense.

LME aluminum will move at USD 1,500-1,525/mt, with resistance at the 5-day, 20-day and 60-day moving averages.

In China’s spot aluminum market, spot discounts of RMB 0-20/mt and spot premiums of RMB 0-20/mt are expected over SHFE 1604 aluminum contract.

Key Macroeconomic Indicators for Base Metal Prices (2016-4-7)

SHFE aluminum prices aluminum prices Al price base metal price forecast

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