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Home / Metal News / SHFE Aluminum to Move in a Tight Range (2017-3-10)

SHFE Aluminum to Move in a Tight Range (2017-3-10)

Mar 10, 2017 09:54

Source:SMM

LME aluminum will trade at USD 1,860-1,890/mt on Friday and SHFE 1705 aluminum will fluctuate between RMB 13,550-13,850/mt.

SHANGHAI, Mar. 10 (SMM) – LME aluminum will fund support at the 40-day moving average and will trade at USD 1,860-1,890/mt on Friday. SHFE 1705 aluminum declined below the 40-day moving average to the previous lowest level at RMB 13,550/mt. The contract will fluctuate between RMB 13,550-13,850/mt on Friday.

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

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