SHFE Aluminum to Lack Rising Momentum (2016-5-16)

SHANGHAI, May 16 (SMM) –SHFE 1607 aluminum will struggle around the 5-day moving average and move at RMB 12,050-12,200/mt on Monday. 

LME aluminum will remain weak at USD 1,530-1,550/mt. 

In China’s spot aluminum market, spot discounts of RMB 0-10/mt and spot premiums of RMB 0-30/mt are expected over SHFE 1605 aluminum contract. 

Key Macroeconomic Indicators for Base Metal Prices (2016-5-16)