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Home / Metal News / SHFE Aluminum Sees Strong Resistance among Metals, SMM Reports

SHFE Aluminum Sees Strong Resistance among Metals, SMM Reports

iconApr 7, 2017 17:01
Source:SMM
May Aluminum Contract on the SHFE only fell 0.8% on Friday despite the nosedive of ferrous and other nonferrous metals.

SHANGHAI, Apr. 7 (SMM) - May Aluminum Contract on the SHFE only fell 0.8% on Friday despite the nosedive of ferrous and other nonferrous metals.

Breaking News: What Triggers Wide-Spread Declines in China Base Metals Market on Friday? SMM Reports

SHFE aluminum for May delivery opened at 13,975 yuan per tonne, and dipped to 13,940 yuan per tonne at one point with the drag of other metals. Aluminum witnessed strong resistance, and finished the day at 14,005 yuan per tonne with short covering at the end of trading.

SHFE aluminum will hover at highs in the near term, SMM foresees. Prices will fluctuate around 14,000 yuan per tonne level this evening. 

For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn. 

aluminum prices
SHFE aluminum
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Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market exchanges, and relying on SMM's internal database model, for reference only and do not constitute decision-making recommendations.

For queries, please contact Lemon Zhao at lemonzhao@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn

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