LME Aluminum to Move Lower (2016-11-30)

Nov 30, 2016 09:35

LME aluminum is expected to move between USD 1,700-1,725/mt on Wednesday and SHFE 1702 aluminum will range at RMB 13,100-13,400/mt.

SHANGHAI, Nov. 30 (SMM) – LME aluminum dropped for more than four days in a row. The contract will test the 40-day moving average on Wednesday and is expected to move between USD 1,700-1,725/mt. SHFE 1702 aluminum is predicted to remain downward track on Wednesday with market negative sentiment and will test the 40-day moving average and range at RMB 13,100-13,400/mt.

In China’s domestic market, spot premiums will continue falling to RMB 130-170/mt on Wednesday.

SHFE aluminum

LME aluminum

aluminum prices

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LME Aluminum to Move Lower (2016-11-30)

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