LME Aluminum to Set with Losses (2016-12-8)-Shanghai Metals Market

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LME Aluminum to Set with Losses (2016-12-8)

Price Review & Forecast 10:06:42AM Dec 08, 2016 Source:SMM

SHANGHAI, Dec. 8 (SMM) – LME aluminum will fluctuate at around the 40-day moving average on Thursday with resistance and will test USD 1,700/mt. The contract is expected to range between USD 1,695-1,725/mt on Thursday. SHFE 1702 aluminum fluctuated at RMB 13,000/mt with volatile Chinese yuan on Tuesday. The contract is expected to test RMB 13,000/mt on Thursday and will move at RMB 12,900-13,150/mt.

In China’s domestic market, spot aluminum should trade at discounts of RMB 140-100/mt on Thursday.

LME Aluminum to Set with Losses (2016-12-8)

Price Review & Forecast 10:06:42AM Dec 08, 2016 Source:SMM

SHANGHAI, Dec. 8 (SMM) – LME aluminum will fluctuate at around the 40-day moving average on Thursday with resistance and will test USD 1,700/mt. The contract is expected to range between USD 1,695-1,725/mt on Thursday. SHFE 1702 aluminum fluctuated at RMB 13,000/mt with volatile Chinese yuan on Tuesday. The contract is expected to test RMB 13,000/mt on Thursday and will move at RMB 12,900-13,150/mt.

In China’s domestic market, spot aluminum should trade at discounts of RMB 140-100/mt on Thursday.