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

Published: Jul 7, 2016 09:17
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 pricesLME aluminum prices

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

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