China's aluminum prices remain capped by technical resistance
March 28, 2019
SHFE two-month aluminum prices closed the overnight session up 0.4% at 13,685 yuan per mton ($1,751 per mton, excluding VAT). Prices sustained yesterday’s gains amid short-covering activity and market talk of recovering downstream demand; however, gains remained limited by technical selling at the 100-day moving average threshold. Short-term range trading still in place.
More details in full report.