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Home / Metal News / SHFE Aluminum to Move Higher (2016-7-7)

SHFE Aluminum to Move Higher (2016-7-7)

Jul 7, 2016 09:17

Source:SMM

SHFE 1609 aluminum should grow to RMB 12,500-12,700/mt today with positive technical indicators.

SHANGHAI, Jul. 7 (SMM) – SHFE 1609 aluminum should grow to RMB 12,500-12,700/mt today with positive technical indicators.

Eyes will be on US June ADP employment data due for release tonight.

LME aluminum will move at USD 1,640-1,660/mt. In China’s spot aluminum market, spot premiums of RMB 40-80/mt are expected over SHFE 1607 aluminum contract.

Key Macroeconomic Indicators for Base Metal Prices (2016-7-7)

SHFE aluminum prices

LME aluminum prices

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market exchanges, and relying on SMM's internal database model, for reference only and do not constitute decision-making recommendations.

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