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Home / Metal News / SHFE Aluminum to Meet Resistance (2016-6-29)

SHFE Aluminum to Meet Resistance (2016-6-29)

Jun 29, 2016 09:29

Source:SMM

Impact from UK leave vote is fading. Blast in Turkey and falling crude oil stocks supported crude oil prices.

SHANGHAI, Jun. 29 (SMM) – Impact from UK leave vote is fading. Blast in Turkey and falling crude oil stocks supported crude oil prices. LME aluminum will return to levels seen before UK vote result and move at USD 1,620-1,640/mt today.

SHFE 1608 aluminum has met growing resistance and should move at RMB 12,340-12,480/mt.

In China’s spot aluminum market, spot premiums of RMB 30-70/mt are expected over SHFE 1607 aluminum contract.

Key Macroeconomic Indicators for Base Metal Prices (2016-6-29)

SHFE aluminum prices

aluminum prices

Al price

base metal price forecast

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LME aluminum will drop to USD 2,080-2,105/mt today on strong bearishness.

Sep 11, 2017 09:46

SMM Comments

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LME tin will hover around USD 20,000/mt today.

Jul 3, 2017 09:53

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SHFE Aluminum Ends with Gains (2016-12-27)

SHFE 1702 aluminum opened at RMB 12,635/mt and finally closed at RMB 12,790/mt.

Dec 27, 2016 17:37

SMM Comments

SHFE Aluminum Ends with Gains (2016-12-27)

Supply Concerns to Support Tin Price Gains, SMM Reports

Tin prices have been performing quite well recently and will remain firm on low stocks and expectations for tightening supply, despite a strong US dollar, SMM says.

Oct 25, 2016 16:30

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Range-Bound Trading to Continue in Base Metals, SMM Says

Base metal prices on the SHFE are expected to keep range-bound trading on Thursday, Shanghai Metals Market foresees.

Oct 20, 2016 09:21

Industry

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LME tin will test support at USD 19,700/mt, with eyes on China foreign trade data.

Oct 13, 2016 09:46

SMM Comments

Base Metals Eye on US Non-Farm Result, SMM Says

Base metal prices on the SHFE are expected to trade at a relatively strong tone on Friday, Shanghai Metals Market foresees.

Sep 2, 2016 09:16

SMM Comments

LME Aluminum to See Range-Bound Trading Next Week, SMM Says

LME aluminum will trade in a narrower range next week, while SHFE 1610 aluminum will consolidate at highs, SMM predicts.

Aug 26, 2016 19:56

SMM Insight

SHFE 1610 Aluminum Jumps on Long Buying (2016-8-19)

On Thursday’s night trading, SHFE 1610 aluminum slid to RMB 12,655/mt after opening at RMB 12,780/mt, ending at RMB 12,680/mt.

Aug 19, 2016 21:23

SMM Comments

Chalco Continues Raising Aluminum Prices in Major Markets on August 19

China Aluminum International Trading Co. (Chalco Trading) raised aluminum prices it offered in major markets further today, it said on its WeChat.

Aug 19, 2016 12:03

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