LME Aluminum to Remain Range-Bound (2016-5-24)-Shanghai Metals Market

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LME Aluminum to Remain Range-Bound (2016-5-24)

Price Review & Forecast 09:24:56AM May 24, 2016 Source:SMM

SHANGHAI, May 24 (SMM) – The US dollar index will hover near current levels while market is waiting for US economic data and speech by Fed Chair Yellen. LME aluminum will trade at USD 1,540-1,560/mt on Tuesday.  

SHFE 1607 aluminum has found support and will move at RMB 12,250-12,350/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 (2016-5-24)

 



LME Aluminum to Remain Range-Bound (2016-5-24)

Price Review & Forecast 09:24:56AM May 24, 2016 Source:SMM

SHANGHAI, May 24 (SMM) – The US dollar index will hover near current levels while market is waiting for US economic data and speech by Fed Chair Yellen. LME aluminum will trade at USD 1,540-1,560/mt on Tuesday.  

SHFE 1607 aluminum has found support and will move at RMB 12,250-12,350/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 (2016-5-24)