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

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

Price Review & Forecast 10:02:25AM May 27, 2016 Source:SMM

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 to Lose Rising Momentum (2016-5-27)

Price Review & Forecast 10:02:25AM May 27, 2016 Source:SMM

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)