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SHFE Aluminum to Lack Rising Impetus

Author:Site  Source:Network  Click to rate:1250  Post time:2016-03-15

SHANGHAI, Mar. 15 (SMM) –SHFE 1605 aluminum has met resistance at the 5-day and 10-day moving averages, and should move at lows of RMB 11,280-11,380/mt on Tuesday. 

LME aluminum is expected to move at USD 1,535-1,570/mt, testing support at the 40-day moving average.

In China’s spot aluminum market, spot premiums of RMB 0-40/mt are expected over SHFE front-month aluminum contract.

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