18 JANUARY 2016Shanghai Metals Market
Price pattern of stronger Shanghai Aluminium prices to change
Edited by : AL CIRCLE
1 min read
Base metal prices on the SHFE are expected to be vulnerable to losses this week, Shanghai Metals Market foresees.
“China will release a bag of 2015 economic data, and this, coupled with narrower volatility of Chinese yuan in offshore market, will pressure the Shanghai prices, and the condition of SHFE stronger than LME will likely be changed,” SMM says.
Overseas investors now also eye on European Central Bank’s rate decision on its January meeting.
SMM forecast for most actively-traded contracts in aluminium spot market is 10,580-10,750 yuan per tonne.
“China will release a bag of 2015 economic data, and this, coupled with narrower volatility of Chinese yuan in offshore market, will pressure the Shanghai prices, and the condition of SHFE stronger than LME will likely be changed,” SMM says.
Overseas investors now also eye on European Central Bank’s rate decision on its January meeting.
SMM forecast for most actively-traded contracts in aluminium spot market is 10,580-10,750 yuan 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
LME Aluminium to meet strong resistance
Next articleRio Tinto releases solid fourth quarter production results
Grow with
AL Circle
