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Home / Metal News / SHFE Aluminum to Lose Rising Momentum (2016-5-27)

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

iconMay 27, 2016 10:02
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 exchanges, and relying on SMM's internal database model, for reference only and do not constitute decision-making recommendations.

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