LME Aluminum to Meet Resistance (2016-5-3)

Published: May 3, 2016 09:37

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LME aluminum will meet resistance and move at USD 1,660-1,680/mt on Monday, with crude oil prices down due to profit-taking.

SHANGHAI, May 3 (SMM) –LME aluminum will meet resistance and move at USD 1,660-1,680/mt on Tuesday, with crude oil prices down due to profit-taking.

SHFE 1606 aluminum will move at RMB 12,650-12,750/mt, with support at the 10-day moving average and resistance at the 5--day moving average.

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 1605 aluminum contract.

Key Macroeconomic Indicators for Base Metal Prices (2016-5-3)

SHFE aluminum prices aluminum prices Al price base metal price forecast

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