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SHFE Aluminum to Gather Strength (2016-5-17)
SHANGHAI, May 17 (SMM) –SHFE 1607 aluminum will challenge resistance at the 20-day moving average and move at RMB 12,300-12,500/mt on Tuesday.
LME aluminum will range USD 1,540-1,560/mt, supported by strong crude oil.
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 1606 aluminum contract.
Key Macroeconomic Indicators for Base Metal Prices (2016-5-17)
SHFE Aluminum to Gather Strength (2016-5-17)
SHANGHAI, May 17 (SMM) –SHFE 1607 aluminum will challenge resistance at the 20-day moving average and move at RMB 12,300-12,500/mt on Tuesday.
LME aluminum will range USD 1,540-1,560/mt, supported by strong crude oil.
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 1606 aluminum contract.
Key Macroeconomic Indicators for Base Metal Prices (2016-5-17)
