Subscription inquiry

China’s aluminum prices rebound and keep testing their resistance threshold

SHFE May 2019 aluminum prices closed the overnight session down 0.4% at 13,595 yuan per mton ($1,746 per mton, excluding VAT) but bounced back to test levels as high as 13,680 yuan per mton ($1,757 per mton, excluding VAT) in after-hours trading amid thin trading volumes and expectations that demand growth will be supported by the forthcoming VAT reduction. SHFE aluminum prices continue to test resistance at 13,650 yuan per mton ($1,750 per mton, excluding VAT).

 

More details in full report.