LME Aluminum to Drift Lower Next Week-Shanghai Metals Market

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LME Aluminum to Drift Lower Next Week

SMM Insight 02:36:27PM Aug 14, 2015 Source:SMM

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

LME Aluminum to Drift Lower Next Week

SMM Insight 02:36:27PM Aug 14, 2015 Source:SMM

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