SHFE Aluminum to Face Technical Correction (2016-4-8)

Published: Apr 8, 2016 09:21

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SHFE 1606 aluminum will face technical correction after falling below the 10-day moving average, and should move at RMB 11,600-11,750/mt on Friday.

SHANGHAI, Apr. 8 (SMM) –SHFE 1606 aluminum will face technical correction after falling below the 10-day moving average, and should move at RMB 11,600-11,750/mt on Friday.

LME aluminum will trade in a range of USD 1,490-1,510/mt,

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 (2016-4-8)

SHFE aluminum prices aluminum prices Al price base metal price forecast

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