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LME Aluminum to Move Lower (2016-12-14)

iconDec 14, 2016 09:27
LME aluminum will move at USD 1,730-1,750/mt on Wednesday and SHFE 1702 aluminum will range between RMB 12,920-13,120/mt.

SHANGHAI, Dec. 14 (SMM) – Market players are waiting for US Federal Reserve’s rate decision in December’s meeting with wary sentiment. LME aluminum will test support at the 5 and 20-day moving averages and will move at USD 1,730-1,750/mt on Wednesday. SHFE 1702 aluminum is predicted to test RMB 13,000/mt and will range between RMB 12,920-13,120/mt on Wednesday.

In China’s domestic market, spot aluminum should trade at discounts of RMB 80-40/mt on Wednesdays.

SHFE aluminum
LME aluminum
aluminum prices

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