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SHFE Aluminum to Fluctuate at Lows (2016-6-27)
Jun 27, 2016 09:26Source:SMM
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
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