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Home / Metal News / LME Aluminum to Meet Resistance (2016-5-3)

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

iconMay 3, 2016 09:37
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
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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