LME Aluminum to Move Higher (2017-2-27)

SHANGHAI, Feb. 27 (SMM) – Market players will see a quiet economic data calendar on Monday. LME aluminum will test resistance at the 10-day moving average and will trade at USD 1,875-1,895/mt. With nearing of China’s National People's Congress and Chinese People's Political Consultative Conference, longs and shorts are both wary. SHFE 1704 aluminum will meet resistance at the 5-day moving average and will move between RMB 13,700-13,950/mt on Monday.

In China’s domestic market, spot aluminum should trade at discounts of RMB 240-200/mt on Monday.