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

iconJul 18, 2017 09:34
Source:SMM
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

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