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