China’s aluminum prices fall back below the 13,650 yuan per mton threshold (technical resistance).

 

SHFE two-month aluminum prices closed the overnight session virtually unchanged at 13,705 yuan per mton ($1,760 per mton, excluding VAT) but fell in after-hours by as much as 0.8% to test levels as low as 13,595 yuan per mton ($1,746 per mton, excluding VAT) amid losses across the base metals complex and a downgrade in global GDP growth forecasts by the OECD. SHFE aluminum prices continue to face resistance around 13,650 yuan per mton ($1,755 per mton, excluding VAT).

 

More details in full report.

 

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