SHFE Aluminum to Fluctuate at Lows (2016-6-27)

Published: Jun 27, 2016 09:26

Save

SHFE 1608 aluminum will face downward pressure from a stronger dollar after UK referendum result.

SHANGHAI, Jun. 27 (SMM) –SHFE 1608 aluminum will face downward pressure from a stronger dollar after UK referendum result, but has found support at the 10-day and 40-day moving averages. The contract should move at RMB 12,100-12,250/mt today.

LME aluminum will drop to USD 1,600-1,620/mt.

In China’s spot aluminum market, spot premiums of RMB 50-90/mt are expected over SHFE 1607 aluminum contract.

Key Macroeconomic Indicators for Base Metal Prices (2016-6-27)

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.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn