SMM Aluminum Weekly Price Review and Forecast (Jan. 26-30, 2015)

Published: Jan 27, 2015 08:58

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SHFE 1503 aluminum contract rose to RMB 12,950/mt early last week, but then fell back due to profit taking at highs.

SHANGHAI, Jan. 27 (SMM) –SHFE 1503 aluminum contract rose to RMB 12,950/mt early last week, but then fell back due to profit taking at highs. The SHFE/LME aluminum price ratio returned below 7.0. In China’s spot market, downstream consumption fell as the off-season deepens. Sellers cut offers to promote sales, sending traded prices down. Market supply was in severe surplus.

This coming week, SHFE 1504 aluminum contract, the most active one, should consolidate between RMB 12,750-12,900/mt. In China’s spot market, sellers will remain eager to move goods, while demand should weaken further. As such, spot discounts are expected to widen to RMB 40-90/mt over SHFE 1502 aluminum contract.

SHFE aluminum prices China alumina prices

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

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