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Home / Metal News / LME Aluminum to Challenge Resistance (2016-4-19)

LME Aluminum to Challenge Resistance (2016-4-19)

Apr 19, 2016 09:08

Source:SMM

LME aluminum has climbed above the 5-day moving average on long buying and will challenge USD 1,570/mt on Tuesday, moving in a range of USD 1,550-1,570/mt.

SHANGHAI, Apr. 19 (SMM) – LME aluminum has climbed above the 5-day moving average on long buying and will challenge USD 1,570/mt on Tuesday, moving in a range of USD 1,550-1,570/mt.

SHFE 1606 aluminum will struggle around RMB 12,000/mt and move between RMB 11,950-12,050/mt.

In China’s spot aluminum market, spot discounts of RMB 0-30/mt and spot premiums of RMB 0-10/mt are expected over SHFE 1605 aluminum contract.

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SHFE aluminum prices

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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 to Challenge Resistance (2016-4-19)

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