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

Published: Jul 18, 2017 09:34

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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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