26 JUNE 2015Shanghai Metal Market
China aluminum prices to fall next week on no sign of demand turnaround
Edited by : AL CIRCLE
1 min read
Aluminum prices in China’s spot market will take a hit next week as demand is unlikely to turn around amid strong pessimism, Shanghai Metals Market foresees.
Spot aluminum should trade at discounts of 70-120 yuan per tonne over SHFE front-month contract.
Selling pressure at highs will keep SHFE 1509 aluminum contract in check within 12,650-12,800 yuan per tonne.
The rise in LME aluminum this past week was accompanies with an increase in positions, a sign of improved market sentiment. As such, LME aluminum might rise to challenge resistance at the 2-day moving average and move between $1,700-1,740 per tonne.
Spot aluminum should trade at discounts of 70-120 yuan per tonne over SHFE front-month contract.
Selling pressure at highs will keep SHFE 1509 aluminum contract in check within 12,650-12,800 yuan per tonne.
The rise in LME aluminum this past week was accompanies with an increase in positions, a sign of improved market sentiment. As such, LME aluminum might rise to challenge resistance at the 2-day moving average and move between $1,700-1,740 per tonne.
Unlock full access – sign up for FREE.
Key benefits
Find exclusive data-driven insights and in-depth analysis
Get our daily newsletter delivered straight to your inbox
Access real-time and historical price trends from global indices
Post and respond to latest business leads
Stay ahead with alerts on learning tools
...and so much more!SIGN UP / LOGIN
Previous article
Outotec to deliver anode rodshop technology to China Xinfa Group's aluminum smelter in China
Next articleAluminium witness up 1.27% at 107.55 , trading range 105.6-109.2
Grow with
AL Circle
