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

Published: Sep 2, 2016 09:25
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 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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SHFE Aluminum to See Range-Bound Trading (2016-9-2) - Shanghai Metals Market (SMM)