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LME Aluminum to Fall Further (2017-5-10)
May 10,2017 09:30
CSTprice review forecast
Source:SMM
Technical indicator suggests LME aluminum will drop further to USD 1,860-1,880/mt today.
SHANGHAI, May 10 (SMM) – Technical indicator suggests LME aluminum will drop further to USD 1,860-1,880/mt today. News about illegal aluminum capacity crackdowns in Shandong failed to drive SHFE 1707 aluminum above the 5-day moving average. SHFE 1707 aluminum should move between RMB 13,700-13,900/mt.
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 (2017-5-10)
SHFE aluminum prices
aluminum prices
Al price
base metal price forecast
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