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Home / Metal News / SHFE Aluminum to Gather Strength (2016-5-17)

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

May 17, 2016 09:32

Source:SMM

SHFE 1607 aluminum will challenge resistance at the 20-day moving average and move at RMB 12,300-12,500/mt on Tuesday.

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 prices

aluminum prices

Al price

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