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Home / Metal News / SHFE Aluminum to Move Lower (2016-12-20)

SHFE Aluminum to Move Lower (2016-12-20)

iconDec 20, 2016 09:49
LME aluminum will range at USD 1,700-1,720/mt on Tuesday and SHFE 1702 aluminum will move at RMB 12,500-12,720/mt.

SHANGHAI, Dec. 20 (SMM) – LME aluminum dropped with rising positions on Monday and tested the 60-day moving average. The contract will range at USD 1,700-1,720/mt on Tuesday. Social inventory keeps rising, waning down SHFE 1702 aluminum. SHFE 1702 aluminum will test RMB 12,500/mt on Tuesday and will move at RMB 12,500-12,720/mt.

In China’s domestic market, spot aluminum should trade at premiums of RMB 80-120/mt on Tuesday.

SHFE aluminum
LME aluminum
aluminum prices
Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market exchanges, and relying on SMM's internal database model, for reference only and do not constitute decision-making recommendations.

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