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SHFE Aluminum to Fluctuate at Highs (2016-8-24)

Published: Aug 24, 2016 09:38
SHFE 1610 aluminum will hover at highs of RMB 12,400-12,550/mt as shorts will be cautious about entering.

SHANGHAI, Aug. 24 (SMM) –SHFE 1610 aluminum will hover at highs of RMB 12,400-12,550/mt as shorts will be cautious about entering.  

LME aluminum will move between USD 1,660-1,680/mt, with support at the 10-day moving average.  

In east China’s spot aluminum market, spot premiums of RMB 60-100/mt are expected over SHFE 1609 aluminum contract.

Key Macroeconomic Indicators for Base Metal Prices (2016-8-24)



SHFE aluminum pricesaluminum pricesAl pricebase metal price forecast

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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