SHANGHAI, Aug. 21 (SMM) – LME aluminum will return above $1,575 per tonne next week, Shanghai Metals Market foresees.
The US dollar lost ground due to expectations that the Us Fed will postpone timing for interest rate, which will favor LME aluminu.
SHFE 1510 aluminum will find solid support at 12,000 yuan per tonne as expectations are running high that more aluminum smelters in China cut output.
In China’s spot market, spot discounts will widen to 100 yuan per tonne over SHFE 1509 contract, due to plentiful supply against poor demand.
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