SHFE Aluminum to Move at Lows (2016-11-29)

Price Review & Forecast 09:42:48AM Nov 29, 2016 Source:SMM

SHANGHAI, Nov. 29 (SMM) – LME aluminum closed above the 10 and 20-day moving averages after diving on Monday and will move between USD 1,730-1,760/mt on Tuesday. SHFE 1702 aluminum is predicted to test support at the 20-day moving average and will range at RMB 13,500-13,800/mt.

In China’s domestic market, spot nickel should trade at premiums of RMB 260-300/mt on Tuesday. 

SHFE Aluminum to Move at Lows (2016-11-29)

Price Review & Forecast 09:42:48AM Nov 29, 2016 Source:SMM

SHANGHAI, Nov. 29 (SMM) – LME aluminum closed above the 10 and 20-day moving averages after diving on Monday and will move between USD 1,730-1,760/mt on Tuesday. SHFE 1702 aluminum is predicted to test support at the 20-day moving average and will range at RMB 13,500-13,800/mt.

In China’s domestic market, spot nickel should trade at premiums of RMB 260-300/mt on Tuesday.