LME Aluminum to Post Gains (2016-11-22)-Shanghai Metals Market

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LME Aluminum to Post Gains (2016-11-22)

Price Review & Forecast 09:51:25AM Nov 22, 2016 Source:SMM

SHANGHAI, Nov. 22 (SMM) – LME aluminum opened higher on Monday and touched the 20-day moving average. The contract will challenge the 10-day moving average on Tuesday and will range between USD 1,710-1,730/mt, supported by rising. SHFE 1701 aluminum and crude oil. SHFE 1701 aluminum fluctuated at around RMB 14,000/mt on Monday and is expected to move between RMB 14,000-14,250/mt on Tuesday.

In China’s domestic market, spot aluminum should trade at premiums of RMB 340-380/mt on Tuesday.

LME Aluminum to Post Gains (2016-11-22)

Price Review & Forecast 09:51:25AM Nov 22, 2016 Source:SMM

SHANGHAI, Nov. 22 (SMM) – LME aluminum opened higher on Monday and touched the 20-day moving average. The contract will challenge the 10-day moving average on Tuesday and will range between USD 1,710-1,730/mt, supported by rising. SHFE 1701 aluminum and crude oil. SHFE 1701 aluminum fluctuated at around RMB 14,000/mt on Monday and is expected to move between RMB 14,000-14,250/mt on Tuesday.

In China’s domestic market, spot aluminum should trade at premiums of RMB 340-380/mt on Tuesday.