LME Aluminum to See Range-Bound Trading (2016-5-20)-Shanghai Metals Market

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LME Aluminum to See Range-Bound Trading (2016-5-20)

Price Review & Forecast 09:28:41AM May 20, 2016 Source:SMM

SHANGHAI, May 20 (SMM) –LME aluminum will struggle around the 5-day moving average and trade in a tight range of USD 1,535-1,555/mt on Friday.  

SHFE 1607 aluminum will challenge resistance at the 20-day moving average and move at RMB 12,300-12,450/mt on long buying. 

In China’s spot aluminum market, spot premiums of RMB 10-50/mt are expected over SHFE 1606 aluminum contract. 

Key Macroeconomic Indicators for Base Metal Prices (2016-5-20)



LME Aluminum to See Range-Bound Trading (2016-5-20)

Price Review & Forecast 09:28:41AM May 20, 2016 Source:SMM

SHANGHAI, May 20 (SMM) –LME aluminum will struggle around the 5-day moving average and trade in a tight range of USD 1,535-1,555/mt on Friday.  

SHFE 1607 aluminum will challenge resistance at the 20-day moving average and move at RMB 12,300-12,450/mt on long buying. 

In China’s spot aluminum market, spot premiums of RMB 10-50/mt are expected over SHFE 1606 aluminum contract. 

Key Macroeconomic Indicators for Base Metal Prices (2016-5-20)