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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
Source: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.

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

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