LME Aluminum to Move in a Tight Range (2017-3-21)

Published: Mar 21, 2017 09:41

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LME aluminum will move between USD 1,910-1,930/mt and SHFE 1705 aluminum will move at RMB 13,700-13,900/mt on Tuesday.

SHANGHAI, Mar. 21 (SMM) – LME aluminum increased for four days in a row and outperformed SHFE 1705 aluminum. The contract will move between USD 1,910-1,930/mt, hurt by other weak metals. Resistance at the 20 and 40-day moving averages become stronger and SHFE 1705 aluminum will move at around the 5 and 10-day moving averages. SHFE 1705 aluminum will move at RMB 13,700-13,900/mt on Tuesday.

In China’s domestic market, spot aluminum should trade at discounts of RMB 160-120/mt on Tuesday.

SHFE aluminum LME aluminum aluminum prices

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