LME Aluminum to Move Lower (2016-10-19)-Shanghai Metals Market

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LME Aluminum to Move Lower (2016-10-19)

Price Review & Forecast 09:45:36AM Oct 19, 2016 Source:SMM

SHANGHAI, Oct. 19 (SMM) – LME aluminum should drop to USD 1,640-1,665/mt on Wednesday with negative technical indicators. SHFE 1612 aluminum is expected to range between the 5 and 10-day moving averages at RMB 12,650-12,800/mt on Wednesday.

In China’s domestic market, spot aluminum will trade at premiums of RMB 250-290/mt over SHFE 1611 aluminum on Wednesday.

LME Aluminum to Move Lower (2016-10-19)

Price Review & Forecast 09:45:36AM Oct 19, 2016 Source:SMM

SHANGHAI, Oct. 19 (SMM) – LME aluminum should drop to USD 1,640-1,665/mt on Wednesday with negative technical indicators. SHFE 1612 aluminum is expected to range between the 5 and 10-day moving averages at RMB 12,650-12,800/mt on Wednesday.

In China’s domestic market, spot aluminum will trade at premiums of RMB 250-290/mt over SHFE 1611 aluminum on Wednesday.