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Home / Metal News / SHFE Aluminum to See Range-Bound Trading (2016-9-2)

SHFE Aluminum to See Range-Bound Trading (2016-9-2)

iconSep 2, 2016 09:25
Source:SMM
SHFE 1610 aluminum will struggle around the 5-day moving average due to strong market caution, with prices expected at RMB 12,100-12,250/mt.

SHANGHAI, Sep. 2 (SMM) –SHFE 1610 aluminum will struggle around the 5-day moving average due to strong market caution, with prices expected at RMB 12,100-12,250/mt.

Crude oil prices will remain weak. Market caution before release of US non-farm payrolls will keep LME aluminum in check at USD 1,600-1,625/mt. 

In east China’s spot aluminum market, spot premiums of RMB 140-180/mt are expected over SHFE 1609 aluminum contract.

Key Macroeconomic Indicators for Base Metal Prices (2016-9-2)





SHFE aluminum prices
aluminum prices
Al price
base metal price forecast

For queries, please contact Michael Jiang at michaeljiang@smm.cn

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