SHANGHAI, Aug. 7 (SMM) – LME aluminum will fall to $ 1,550-1,600 per tonne next week, Shanghai Metals Market foresees.
The US dollar index has been firm, and moving averages of LME aluminum are pointing downward.
SHFE 1510 aluminum will hover around 12,000 yuan per tonne.
In China’s spot market, sellers will hold back goods at lows, while buyers will show little interest. Spot discounts of 0-50 yuan per tonne are expected over SHFE 1508 contract.
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