LME Aluminum to Face Downward Pressure (2016-7-5)

Published: Jul 5, 2016 09:18

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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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