LME Aluminum Sets with Losses (2016-11-17)-Shanghai Metals Market

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LME Aluminum Sets with Losses (2016-11-17)

Price Review & Forecast 09:49:50AM Nov 17, 2016 Source:SMM

SHANGHAI, Nov. 17 (SMM) – LME aluminum will keep downward momentum on Thursday and test support at the 40-day moving average. The contract is predicted to move between USD 1,687-1,714/mt on Thursday and SHFE 1701 aluminum will range at RMB 13,200-13,500/mt.

In China’s domestic market, spot aluminum should trade at premiums of RMB 400-440/mt on Thursday.

Price

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Aluminum Ingot
Apr.19
14050.0
40.0
(0.29%)
Alumina (Averaged)
Apr.19
2665.0
0.0
(0.00%)
Alumina-East
Apr.19
2680.0
0.0
(0.00%)
Alumina -Central
Apr.19
2670.0
0.0
(0.00%)
Alumina - North
Apr.19
2660.0
0.0
(0.00%)

LME Aluminum Sets with Losses (2016-11-17)

Price Review & Forecast 09:49:50AM Nov 17, 2016 Source:SMM

SHANGHAI, Nov. 17 (SMM) – LME aluminum will keep downward momentum on Thursday and test support at the 40-day moving average. The contract is predicted to move between USD 1,687-1,714/mt on Thursday and SHFE 1701 aluminum will range at RMB 13,200-13,500/mt.

In China’s domestic market, spot aluminum should trade at premiums of RMB 400-440/mt on Thursday.