06 JULY 2015Shanghai Metal Market
LME aluminum to rebound to $ 1,710-1,750 next week
Edited by : AL CIRCLE
1 min read
LME aluminum will rebound to $ 1,710-1,750 per tonne next week, Shanghai Metals Market foresees.
KDJ and MACD indicators have sent positive signals. Greek debt crisis has eased. A poll before the referendum showed that there is a good chance for Greece to stay in the euro zone. These will offer rising impetus to LME aluminum.
Spot discounts in China’s spot aluminum market should narrow to 50-100 yuan per tonne over SHFE front-month contract. This is because nearing delivery date of SHFE 1507 aluminum contract will allow sellers to hold back goods at lows.
KDJ and MACD indicators have sent positive signals. Greek debt crisis has eased. A poll before the referendum showed that there is a good chance for Greece to stay in the euro zone. These will offer rising impetus to LME aluminum.
Spot discounts in China’s spot aluminum market should narrow to 50-100 yuan per tonne over SHFE front-month contract. This is because nearing delivery date of SHFE 1507 aluminum contract will allow sellers to hold back goods at lows.
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