LME Aluminum to Move Lower (2017-3-3)

Mar 3, 2017 09:25

LME aluminum will trade at USD 1,890-1,920/mt and SHFE 1704 aluminum will move between RMB 13,850-14,050/mt.

SHANGHAI, Mar. 3 (SMM) – LME aluminum declined with rising positions on Thursday’s night trading. The contract will test support at the 5 and 10-day moving averages on Friday and will trade at USD 1,890-1,920/mt. SHFE 1704 aluminum declined sharply on Thursday’s night trading. The contract will rally and test the 5, 10 and 20-day moving averages on Friday. SHFE 1704 aluminum will move between RMB 13,850-14,050/mt.

In China’s domestic market, spot aluminum should trade at discounts of RMB 220-180/mt on Friday.

SHFE aluminum

LME aluminum

aluminum prices

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LME Aluminum to Move Lower (2017-3-3)

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