LME Aluminum to See Range-Bound Trading (2016-5-23)-Shanghai Metals Market

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LME Aluminum to See Range-Bound Trading (2016-5-23)

Price Review & Forecast 09:45:07AM May 23, 2016 Source:SMM

SHANGHAI, May 23 (SMM) –LME aluminum will struggle around the 5-day and 10-day moving averages and trade in a tight range of USD 1,540-1,560/mt on Monday.  

SHFE 1607 aluminum will find support at the 5-day and 20-day moving averages and move at RMB 12,350-12,550/mt. 

In China’s spot aluminum market, spot premiums of RMB 0-40/mt are expected over SHFE 1606 aluminum contract. 

Key Macroeconomic Indicators for Base Metal Prices (2016-5-23)




LME Aluminum to See Range-Bound Trading (2016-5-23)

Price Review & Forecast 09:45:07AM May 23, 2016 Source:SMM

SHANGHAI, May 23 (SMM) –LME aluminum will struggle around the 5-day and 10-day moving averages and trade in a tight range of USD 1,540-1,560/mt on Monday.  

SHFE 1607 aluminum will find support at the 5-day and 20-day moving averages and move at RMB 12,350-12,550/mt. 

In China’s spot aluminum market, spot premiums of RMB 0-40/mt are expected over SHFE 1606 aluminum contract. 

Key Macroeconomic Indicators for Base Metal Prices (2016-5-23)