LME Aluminum to Correct at Lows (2016-5-12)

Price Review & Forecast 09:17:07AM May 12, 2016 Source:SMM

SHANGHAI, May 12 (SMM) –LME aluminum has found support at the 40-day and 60-day moving averages and will consolidate at USD 1,560-1,580/mt on Thursday. 

SHFE 1607 aluminum will range RMB 12,000-12,200/mt, with support at the 40-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 (2016-5-12)



Relative News

LME Aluminum to Correct at Lows (2016-5-12)

Price Review & Forecast 09:17:07AM May 12, 2016 Source:SMM

SHANGHAI, May 12 (SMM) –LME aluminum has found support at the 40-day and 60-day moving averages and will consolidate at USD 1,560-1,580/mt on Thursday. 

SHFE 1607 aluminum will range RMB 12,000-12,200/mt, with support at the 40-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 (2016-5-12)