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

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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. 

Price

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Aluminum Ingot
Apr.22
14130.0
80.0
(0.57%)
Alumina (Averaged)
Apr.22
2675.0
10.0
(0.38%)
Alumina-East
Apr.22
2690.0
10.0
(0.37%)
Alumina -Central
Apr.22
2680.0
10.0
(0.37%)
Alumina - North
Apr.22
2670.0
10.0
(0.38%)

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.