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Home / Metal News / LME Aluminum to See Technical Corrections (2017-5-9)

LME Aluminum to See Technical Corrections (2017-5-9)

iconMay 9, 2017 09:31
LME aluminum has been falling for four days in a row, and may face brief technical corrections to move between USD 1,860-1,890/mt today.

SHANGHAI, May 9 (SMM) – LME aluminum has been falling for four days in a row, and may face brief technical corrections to move between USD 1,860-1,890/mt today. Poor market fundamentals and fading effect from speculation over policy caused SHFE aluminum to fall sharply. SHFE 1706 aluminum will test support at RMB 13,750/mt and move between RMB 13,700-13,950/mt, with longs likely to enter at current low levels.  

In east China’s spot aluminum market, spot discounts of RMB 0-40/mt are expected over SHFE 1705 aluminum contract.

Key Macroeconomic Indicators for Base Metal Prices (2017-5-9)

 

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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