China's aluminum prices regain some more ground but the upside seems limited
March 13, 2019
SHFE two-month aluminum prices sustained yesterday’s gains and closed the overnight session up 0.4% at 13,685 yuan per mton ($1,759 per mton, excluding VAT). In after-hours trading, prices tested levels as high as 13,755 yuan per mton ($1,768 per mton, excluding VAT) amid rallying LME prices; however, prices gave up most of their gains amid technical resistance around the 100-day moving average threshold. SHFE aluminum prices are again testing levels above 13,650 yuan per mton ($1,755 per mton, excluding VAT).
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