China's aluminum prices regain some ground before reaching technical resistance
March 28, 2019
SHFE two-month aluminum prices closed the overnight session down 0.1% at 13,625 yuan per mton ($1,746 per mton, excluding VAT) but rebounded in after- hours trading until reaching technical resistance at the 100-day moving average threshold. Prices were initially pressured down by weak Chinese industrial profits data but bounced back bolstered by gains in LME aluminum prices. Short-term range trading still in place.
More details in full report.