LME Aluminum to Struggle around Moving Averages (2017-6-5)-Shanghai Metals Market

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LME Aluminum to Struggle around Moving Averages (2017-6-5)

Price Review & Forecast 09:33:27AM Jun 05, 2017 Source:SMM

SHANGHAI, Jun. 5 (SMM) –LME aluminum will continue struggling around moving averages and move between USD 1,920-1,940/mt today. SHFE 1707 aluminum should move between RMB 13,770-13,920/mt, with resistance at the 5-day moving average.

In east China’s spot aluminum market, spot discounts of RMB 60-20/mt are expected over SHFE 1706 aluminum contract.

Key Macroeconomic Indicators for Base Metal Prices (2017-6-5)
 

LME Aluminum to Struggle around Moving Averages (2017-6-5)

Price Review & Forecast 09:33:27AM Jun 05, 2017 Source:SMM

SHANGHAI, Jun. 5 (SMM) –LME aluminum will continue struggling around moving averages and move between USD 1,920-1,940/mt today. SHFE 1707 aluminum should move between RMB 13,770-13,920/mt, with resistance at the 5-day moving average.

In east China’s spot aluminum market, spot discounts of RMB 60-20/mt are expected over SHFE 1706 aluminum contract.

Key Macroeconomic Indicators for Base Metal Prices (2017-6-5)