SHFE Aluminum to Gather Rising Strength (2016-5-18)
SHFE 1607 aluminum will challenge RMB 12,500/mt on May 18 with longs gathering strength.
SHANGHAI, May 18 (SMM) – SHFE 1607 aluminum will challenge RMB 12,500/mt on May 18 with longs gathering strength.
LME aluminum will struggle around the 5-day moving average and range USD 1,540-1,560/mt during Asian trading hours Wednesday. Spot aluminum will trade at discounts of RMB 10/mt and premiums of RMB 30/mt against SHFE 1606 aluminum.
Key Macroeconomic Indicators for Base Metal Prices (2016-5-18)
Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.
