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SHFE Aluminum to Gather Rising Strength (2016-5-18)
May 18, 2016 09:22Source:SMM
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)
SHFE aluminum prices
LME aluminum prices
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