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.

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.