SHFE Aluminum to Gather Strength (2016-5-17)-Shanghai Metals Market

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SHFE Aluminum to Gather Strength (2016-5-17)

Price Review & Forecast 09:32:19AM May 17, 2016 Source:SMM

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)

Price Review & Forecast 09:32:19AM May 17, 2016 Source:SMM

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)