LME Aluminum to Look for Floor (2017-5-3)

Published: May 3, 2017 09:45

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LME aluminum should move between USD 1,910-1,940/mt today, with strong resistance at the 5-day, 10-day and 20-day moving averages while looking for support at the 60-day moving average.

SHANGHAI, May 3 (SMM) – LME aluminum should move between USD 1,910-1,940/mt today, with strong resistance at the 5-day, 10-day and 20-day moving averages while looking for support at the 60-day moving average. SHFE 1706 aluminum has fallen for four days in a row and will move at RMB 13,800-14,050/mt.

In east China’s spot aluminum market, spot discounts of RMB 100-60/mt are expected over SHFE 1705 aluminum contract.

Key Macroeconomic Indicators for Base Metal Prices (2017-5-3)

SHFE aluminum prices aluminum prices Al price base metal price forecast

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