SHFE Aluminum to Face Pressure from Short Selling (2016-10-18)-Shanghai Metals Market

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SHFE Aluminum to Face Pressure from Short Selling (2016-10-18)

Price Review & Forecast 09:10:01AM Oct 18, 2016 Source:SMM

SHANGHAI, Oct. 18 (SMM) –SHFE 1611 aluminum will fall to RMB 12,550-12,750/mt due to growing short momentum.


LME aluminum will drop to USD 1,650-1,670/mt due to short selling.  

In east China spot market, spot premiums of RMB 260-300/mt are expected over SHFE 1611 aluminum contract. 

Key Macroeconomic Indicators for Base Metal Prices (2016-10-18)
 

SHFE Aluminum to Face Pressure from Short Selling (2016-10-18)

Price Review & Forecast 09:10:01AM Oct 18, 2016 Source:SMM

SHANGHAI, Oct. 18 (SMM) –SHFE 1611 aluminum will fall to RMB 12,550-12,750/mt due to growing short momentum.


LME aluminum will drop to USD 1,650-1,670/mt due to short selling.  

In east China spot market, spot premiums of RMB 260-300/mt are expected over SHFE 1611 aluminum contract. 

Key Macroeconomic Indicators for Base Metal Prices (2016-10-18)