06 JULY 2016Shanghai Metals Market
SHFE aluminium to move around moving averages
Edited by : AL CIRCLE
1 min read
SHFE 1609 aluminium almost lost support at the 5-day moving average as shorts took the upper hand. The contract should move at RMB 12,300-12,500/mt today, hovering around the 5-day and 10-day moving averages.
LME aluminium has found strong support and will move at USD 1,640-1,660/mt.
In China’s spot aluminium market, spot premiums of RMB 20-60/mt are expected over SHFE 1607 aluminium contract.
LME aluminium has found strong support and will move at USD 1,640-1,660/mt.
In China’s spot aluminium market, spot premiums of RMB 20-60/mt are expected over SHFE 1607 aluminium contract.
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