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SHFE Aluminum to Lack Rising Momentum (2016-5-16)
May 16, 2016 09:39Source:SMM
SHFE 1607 aluminum will struggle around the 5-day moving average and move at RMB 12,050-12,200/mt on Monday.
SHANGHAI, May 16 (SMM) –SHFE 1607 aluminum will struggle around the 5-day moving average and move at RMB 12,050-12,200/mt on Monday.
LME aluminum will remain weak at USD 1,530-1,550/mt.
In China’s spot aluminum market, spot discounts of RMB 0-10/mt and spot premiums of RMB 0-30/mt are expected over SHFE 1605 aluminum contract.
Key Macroeconomic Indicators for Base Metal Prices (2016-5-16)
SHFE aluminum prices
aluminum prices
Al price
base metal price forecast
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