21 MARCH 2016Shanghai Metal Market
Falling China aluminium stocks to lift prices this week
Edited by : AL CIRCLE
1 min read
Aluminum prices will gain momentum from falling aluminum stocks in China’s five major markets, which have posted their first declines since after the 2016 Lunar New Year holiday.
SMM sees SHFE 1605 aluminum challenging resistance at 11,500 yuan per tonne and spot discounts in China narrowing to 30-70 yuan per tonne.
LME aluminum looks set to advance to $1,520-1,560 per tonne on the back of a softer dollar and rising crude oil prices.
SMM sees SHFE 1605 aluminum challenging resistance at 11,500 yuan per tonne and spot discounts in China narrowing to 30-70 yuan per tonne.
LME aluminum looks set to advance to $1,520-1,560 per tonne on the back of a softer dollar and rising crude oil prices.
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