SHFE Aluminum to Move Higher (2016-11-25)-Shanghai Metals Market

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SHFE Aluminum to Move Higher (2016-11-25)

Price Review & Forecast 09:37:43AM Nov 25, 2016 Source:SMM

SHANGHAI, Nov. 25 (SMM) – LME aluminum stopped rising and dropped on Thursday and will move between USD 1,750-1,770/mt on Friday with lack of rising strength. SHFE 1701 aluminum fell slightly on Thursday but found support at the 10-day moving average. The contract will move above the 10-day moving average and is expected to range between RMB 13,900-14,100/mt on Friday.

In China’s domestic market, spot copper should trade at premiums of RMB 300-340/mt on Friday.

Price

more
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%)

SHFE Aluminum to Move Higher (2016-11-25)

Price Review & Forecast 09:37:43AM Nov 25, 2016 Source:SMM

SHANGHAI, Nov. 25 (SMM) – LME aluminum stopped rising and dropped on Thursday and will move between USD 1,750-1,770/mt on Friday with lack of rising strength. SHFE 1701 aluminum fell slightly on Thursday but found support at the 10-day moving average. The contract will move above the 10-day moving average and is expected to range between RMB 13,900-14,100/mt on Friday.

In China’s domestic market, spot copper should trade at premiums of RMB 300-340/mt on Friday.