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Home / Metal News / LME Aluminum to Look for Floor (2017-5-8)

LME Aluminum to Look for Floor (2017-5-8)

iconMay 8, 2017 09:31
LME aluminum, already below all moving averages, will test support at USD 1,900/mt and range USD 1,890-1,915/mt today.

SHANGHAI, May 8 (SMM) – LME aluminum, already below all moving averages, will test support at USD 1,900/mt and range USD 1,890-1,915/mt today. SHFE 1706 aluminum will move at RMB 13,850-14,050/mt. Whether SHFE 1706 aluminum will break through RMB 14,000/mt will depend on stimulus from policy side.  

In east China’s spot aluminum market, spot discounts of RMB 50-10/mt are expected over SHFE 1705 aluminum contract.

Key Macroeconomic Indicators for Base Metal Prices (2017-5-8)

 

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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