LME Aluminum to Move in a Tight Range (2017-1-5)

Published: Jan 5, 2017 10:07

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LME aluminum will fluctuate at USD 1,675-1,695/mt on Thursday and SHFE 1703 aluminum is expected to move at RMB 12,620-12,780/mt.

SHANGHAI, Jan. 5 – Eyes should be on market’s analysis on US Federal Reserve’s meeting minutes in December and US’s ADP and PMI on Thursday. LME aluminum will fluctuate at USD 1,675-1,695/mt on Thursday. SHFE 1703 aluminum will challenge resistance at the 5 and 10-day moving averages due to positive sentiment and tight transport capacity resulted by heavy air pollution, but it will be difficult to break through the resistance. The contract is expected to move at RMB 12,620-12,780/mt.

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

SHFE aluminum LME aluminum aluminum prices

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