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Home / Metal News / LME Aluminum to Drifter Lower (2017-5-5)

LME Aluminum to Drifter Lower (2017-5-5)

iconMay 5, 2017 09:39
LME aluminum should test support at the 60-day moving average and range USD 1,900-1,925/mt today, affected by weakness in other base metal markets.

SHANGHAI, May 5 (SMM) – LME aluminum should test support at the 60-day moving average and range USD 1,900-1,925/mt today, affected by weakness in other base metal markets. SHFE 1706 aluminum will be resistant to declines on market speculation over industry policy and move at RMB 13,800-14,000/mt.  

In east China’s spot aluminum market, spot discounts of RMB 70-30/mt are expected over SHFE 1705 aluminum contract.

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

 

SHFE aluminum prices
aluminum prices
Al price
base metal price forecast
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.

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