SHANGHAI, Sept. 4 (SMM) – Aluminum prices in China’s spot market will take a hit after the three-day holiday, Shanghai Metals Market foresees.
More ingots will arrive at China’s major regional markets after the holiday. Meanwhile, traders that have signed term contracts will increase shipment at the beginning of the month. This will widen spot discounts to 100-50 yuan per tonne over SHFE 1509 contract.
SHFE 1511 aluminum contract should range 11,700-11,900 yuan per tonne, versus $ 1,570-1,630 per tonne for LME aluminum.
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