SHFE Aluminum to Lose Rising Momentum (2016-5-27)

Published: May 27, 2016 10:02

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SHFE 1607 aluminum will meet resistance at the 5-day and 40-day moving averages and move at RMB 11,950-12,200/mt on Friday on fading effect from falling aluminum stocks .

SHANGHAI, May 27 (SMM) –SHFE 1607 aluminum will meet resistance at the 5-day and 40-day moving averages and move at RMB 11,950-12,200/mt on Friday on fading effect from falling aluminum stocks.

LME aluminum will fluctuate at USD 1,540-1,560/mt, with resistance at the 60-day moving average.

In China’s spot aluminum market, spot premiums of RMB 90-130/mt are expected over SHFE 1606 aluminum contract.

Key Macroeconomic Indicators for Base Metal Prices (2016-5-27)

SHFE aluminum prices aluminum prices Al price base metal price forecast

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.

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