How Will Aluminum Prices Move After 11-Day Losing Streak? SMM Interviews

SHANGHAI, Oct. 27 (SMM) – SHFE aluminum suffered an 11-day losing run as of October 26, ending the day at 10,465 yuan per tonne. 

“Continuously falling costs and aluminum production were the major culprits for the slump”, an analyst from Ruda Futures told SMM in latest interview. 

The analyst sees SHFE aluminum vulnerable at 10,400 yuan per tonne mark.  

SHFE aluminum inventories totaled 290,400 tonnes as of October 23, the highest in nearly one month, reflecting tepid consumption.  

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