LME Aluminum to Move Lower (2016-11-30)-Shanghai Metals Market

Hot Keywords

  • Zinc
  • Aluminium
  • Futures movement
  • Silicon
  • Copper
  • Prebaked anode
  • Inventory data
  • NEV
  • Nickel
  • Lead
  • Evening comments
  • MMi Iron Ore Port Index
  • New Energy Vehicle
  • Production data
  • Market commentary

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

Price Review & Forecast 09:35:07AM Nov 30, 2016 Source:SMM

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.

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%)

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

Price Review & Forecast 09:35:07AM Nov 30, 2016 Source:SMM

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.