China’s aluminum prices rally toward their 100-day moving-average threshold

SHFE May-2019 aluminum prices closed the overnight session up 0.6% at 13,670 yuan per mton ($1,756 per mton, excluding VAT) and extended their gains in after-hours trading until facing resistance around 100-day moving average. SHFE aluminum prices have yet to confirm breaking resistance around 13,650 yuan per mton ($1,755 per mton, excluding VAT) to technically unleash a new short-term upward trend toward 14,000 yuan per mton ($1,800 per mton, excluding VAT).

More details in full report.