SHANGHAI, Jun. 12 (SMM) – LME aluminum is on track for more declines this week, SMM expects.
Softening overseas demand will pressure aluminum prices. Some aluminum buyers in Japan agreed to set aluminum premiums at $119/tonne for Q3 shipments, down 7% from $128/tonne in Q2 and marking the first fall in three quarters.
Collections of 2017-2018 Aluminum Price Forecasts by Global Major Research Firms
Besides, badly performed SHFE aluminum will not offer support to LME aluminum, either, SMM explained.
LME aluminum could drop to $1,870-1,920/tonne this week.
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