SHFE Aluminum to Consolidate after Big Decline (2017-9-6)

Published: Sep 6, 2017 09:39

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Movement of other base metals will have big impact on aluminum prices.

SHANGHAI, Sep. 6 (SMM) – Movement of other base metals will have big impact on aluminum prices. SHFE 1711 aluminum will range RMB 16,280-16,450/mt on Tuesday, testing support at the 20-day moving average. LME aluminum will move within USD 2,080-2,105/mt today, also testing support at the 20-day moving average.

In east China’s spot aluminum market, spot discounts are expected at RMB 200-160/mt over SHFE 1709 aluminum contract.

Key Macroeconomic Indicators for Base Metal Prices (2017-9-6)

SHFE aluminum prices aluminum prices Al price base metal price forecast

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