LME Aluminum to Strength (2016-12-12)

Dec 12, 2016 09:38

LME aluminum will range between USD 1,735-1,760/mt on Monday and SHFE 1702 aluminum will move at RMB 13,300-13,500/mt.

SHANGHAI, Dec. 12 (SMM) – LME aluminum increased for three days in a row and broke through the 20-day moving average. The contract will increase on Monday with firm LME market and will range between USD 1,735-1,760/mt. SHFE 1702 aluminum rose last Friday and found support at the 10 and 40-day moving averages. Chinese yuan fell below 6.92, supporting commodities. The contract will move at RMB 13,300-13,500/mt on Monday.

In China’s domestic market, spot aluminum should trade at discounts of RMB 50-10/mt on Monday.

SHFE aluminum

LME aluminum

aluminum prices

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LME Aluminum to Strength (2016-12-12)

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