20 JULY 2015AlCircle.com
LME Aluminum to rise next week, foresees SMM
Edited by : AL CIRCLE
1 min read
Speculations about production cuts in Chinese smelters and high selling pressure are all set to drive LME aluminum prices to $ 1, 700 – 1,740 per tonne next week, says Shanghai Metals Market.
Prime trading indicators- KDJ and MACD are both pointing upwards. A Strong US dollar, however, is likely to cap the price rise in the foreseeable future.
In China’s spot market, no demand turnaround will keep favoring spot discounts at 60-100 yuan per tonne over SHFE 1508 contract.
Prime trading indicators- KDJ and MACD are both pointing upwards. A Strong US dollar, however, is likely to cap the price rise in the foreseeable future.
In China’s spot market, no demand turnaround will keep favoring spot discounts at 60-100 yuan per tonne over SHFE 1508 contract.
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