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

Published: Aug 24, 2016 09:38

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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 prices aluminum prices Al price base metal price forecast

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