Home / Metal News / [Al Price] China Aluminum Prices to Fall Next Week on No Sign of Demand Turnaround

[Al Price] China Aluminum Prices to Fall Next Week on No Sign of Demand Turnaround

iconJun 26, 2015 14:04
Source:SMM
Aluminum prices in China’s spot market will take a hit next week as demand is unlikely to turn around amid strong pessimism, Shanghai Metals Market foresees.
SHANGHAI, Jun. 26 (SMM) –Aluminum prices in China’s spot market will take a hit next week as demand is unlikely to turn around amid strong pessimism, Shanghai Metals Market foresees. 
 
Spot aluminum should trade at discounts of 70-120 yuan per tonne over SHFE front-month contract. 
 
Selling pressure at highs will keep SHFE 1509 aluminum contract in check within 12,650-12,800 yuan per tonne. 
 
The rise in LME aluminum this past week was accompanied with an increase in positions, a sign of improved market sentiment. As such, LME aluminum might rise to challenge resistance at the 20-day moving average and move between $1,700-1,740 per tonne. 
 
For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn.
 
LME aluminum prices
SHFE aluminum prices
aluminum price forecast
SMM review & forecast

For queries, please contact Michael Jiang at michaeljiang@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn

Related news

SMM Events & Webinars

All