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SHFE Aluminum to Face Short Selling (2016-7-22)
Jul 22, 2016 09:37Source:SMM
SHFE 1609 aluminum will drop to RMB 12,200-12,370/mt as short momentum is growing.
SHANGHAI, Jul. 22 (SMM) –SHFE 1609 aluminum will drop to RMB 12,200-12,370/mt as short momentum is growing.
Manufacturing PMIs from major economies in Europe are expected to be poor. LME aluminum stocks began growing. So, LME aluminum will fall further to USD 1,580-1,610/mt.
In China’s spot aluminum market, spot premiums of RMB 80-120/mt are expected over SHFE 1608 aluminum contract.
Key Macroeconomic Indicators for Base Metal Prices (2016-7-22)
SHFE aluminum prices
aluminum prices
Al price
base metal price forecast
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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