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Home / Metal News / SHFE Aluminum to Pare Gains (2017-7-18)

SHFE Aluminum to Pare Gains (2017-7-18)

iconJul 18, 2017 09:34
LME aluminum has been volatile recently, affected by US dollar, crude oil and SHFE aluminum.

SHANGHAI, Jul. 18 (SMM) – LME aluminum has been volatile recently, affected by US dollar, crude oil and SHFE aluminum. LME aluminum will test support at the 5-day and 10-day moving averages and range USD 1,900-1,927/mt today due to fading effect from output cut news. SHFE 1709 aluminum will fall back from highs to RMB 14,360-14,500/mt.    

In east China’s spot aluminum market, spot discounts are expected at RMB 170-130/mt over SHFE 1708 aluminum contract.  

Key Macroeconomic Indicators for Base Metal Prices (2017-7-18)
 

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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