SHFE 1508 Copper Loses RMB 360/mt (Jun. 17, 2015)

[SMM Aluminum Express News] Dudy Purwagandhi said France is ready to finance the Bandung LRT project, with planning currently being prepared before construction begins. The project aims to minimize reliance on the state budget (APBN), prioritizing foreign and domestic investors. Proposed routes will be offered while France develops the project blueprint. Philippe Tabarot added France will also support broader cooperation with Indonesia across land, sea, and air transport, including technology transfer, port development, maritime safety, and aviation.

[SMM Aluminum Express News] Diesel prices in Vietnam have surged over 105% since late February, rising from 19,270 dong to 39,660 dong (US$1.50) per litre, while 95-octane petrol climbed nearly 68% to 33,840 dong following the outbreak of conflict involving the United States, Israel, and Iran. Soaring global oil prices have triggered supply concerns, prompting Vietnam to seek fuel support from Qatar, Kuwait, Algeria, and Japan, while also signing a new oil and gas cooperation deal with Russia.

[Geopolitical Disruptions Coupled With a Stronger US Dollar Put Aluminum Prices Under Pressure and Cause Volatility] Continued destocking in LME inventory provided bottom support for LME aluminum, but amid tightening capital liquidity and profit-taking by bulls, upward momentum was insufficient, and the backwardation structure weakened somewhat. China’s social inventory rose to a high for the same period in nearly five years, and the inventory buildup cycle has yet to end, with high inventory and weak spot fundamentals jointly suppressing upward momentum. The divergence between domestic and overseas drivers continued, the SHFE/LME price ratio kept weakening, and prices were mainly under pressure in the short term.