LME Aluminum to Drift Lower Next Week

Published: Aug 14, 2015 14:36

Save

LME aluminum will fall to $ 1,550-1,580 per tonne next week, Shanghai Metals Market foresees.

SHANGHAI, Aug. 14 (SMM) – LME aluminum will move down next week, Shanghai Metals Market foresees.

Expectations are running that that Chinese aluminum semis will flood into overseas market after Chinese yuan depreciated. This, combined with strong resistance at moving averages, will push LME aluminum down to to $ 1,550-1,580 per tonne.

SHFE 1510 aluminum might drop to 19,950-12,150 yuan per tonne, as production cuts are insufficient to offset slowing consumption.

In China’s spot market, spot discounts will widen to 40-80 yuan per tonne over SHFE 1508 contract.

For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn.

A00 Aluminum Ingot 7 Day Chart

Al price LME aluminum prices SHFE aluminum prices aluminum price forecast SMM review & forecast

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.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

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

Related News

10 hours ago

Zhongjin Lingnan's Fankou Lead-Zinc Mine to Resume Production After Rectification

According to the announcement released by Zhongjin Lingnan on September 16, the Fankou Lead‑Zinc Mine of the Company has completed rectification in accordance with the relevant requirements of the Guangdong Provincial Department of Emergency Management. Following successive acceptance inspections by higher‑level safety regulatory authorities, the mine will resume production starting from September 17, 2026.

10 hours ago

11 hours ago

[SMM Analysis]Falling Inventories and Spot Premiums: Inflection Point Has Arrived for Lead Market

[SMM Analysis]Falling Inventories and Spot Premiums: Inflection Point Has Arrived for Lead Market SMM September 16 news: Today, the Shanghai lead 2610 contract continued to fluctuate weakly, with the intraday low dipping to 15,750 yuan/ton, hitting a near one-month low. In stark contrast to the weak Shanghai lead futures, the domestic lead spot market has quietly changed.

11 hours ago

14 hours ago

SHFE lead stabilizes and closes up 0.60%, awaiting the US Fed rate hike [Lead Futures Brief Comment]

14 hours ago