China's aluminum prices keep trading within a narrow range, capped by resistance
March 12, 2019
SHFE two-month aluminum prices closed the overnight session virtually unchanged at 13,600 yuan per mton ($1,743 per mton, excluding VAT). In intraday terms, prices tested a new two-week low of 13,550 yuan per mton ($1,737 per mton, excluding VAT) but managed to remain somewhat supported after China’s central bank hinted at possible new economic stimulus to prop up credit growth. SHFE aluminum prices continue to face resistance around 13,650 yuan per mton (1,750 per mton, excluding VAT).
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