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LME Aluminum to Face Downward Pressure (2016-7-5)
Jul 5, 2016 09:18Source:SMM
Market will eye US May durable goods orders today.
SHANGHAI, Jul. 5 (SMM) – Market will eye US May durable goods orders today. Crude oil prices will meet pressure from recovering supply. LME aluminum will test support at the 5-day moving average and move at USD 1,635-1,655/mt.
SHFE 1609 aluminum will move at RMB 12,300-12,500/mt on Monday.
In China’s spot aluminum market, spot premiums of RMB 60-100/mt are expected over SHFE 1607 aluminum contract.
Key Macroeconomic Indicators for Base Metal Prices (2016-7-5)
SHFE aluminum prices
aluminum prices
Al price
base metal price forecast
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