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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

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