LME Aluminum to Extend Upward Momentum Next Week

Published: Nov 27, 2015 15:42

Save

LME aluminum will extend upward momentum into next week, SMM expects.

SHANGHAI, Nov. 27 (SMM) – LME aluminum will extend upward momentum into next week, SMM expects.

SHFE aluminum will rise further to 10,400-10,800 yuan per tonne on more short-covering triggered by output out news. And this will push LME aluminum up to 1,500-1,550 per tonne. A firm US dollar amid high expectations for US rate hike this year will pressure LME aluminum at highs, though.

See SMM survey, please click: 66% of Chinese Aluminum Smelters Bearish toward Aluminum Prices This Week, SMM Survey

A firm US dollar amid high expectations for US rate hike this year and concerns over China economic slowdown all bode ill for LME aluminum.

In China’s spot market, despite rising SHFE aluminum, the fact that forward-month SHFE aluminum contract underperform near-month contracts and growing wait-and-see sentiment among processors will check spot discounts in check around 100 yuan per tonne over SHFE front-month contract.

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

LME aluminum prices SHFE aluminum prices al price aluminum prices

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 to learn 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

4 hours ago

[SMM Nickel Market Flash] Indonesia RKEF Utilisation Drops to 76% on Ore Quota Cut; Govt Eyes $18-20K Nickel Range

Indonesia's RKEF smelter capacity utilisation has fallen to 76% from 84% in 2025 after the energy ministry cut the 2026 nickel ore quota to 260–270 million tonnes — below last year's 320 million tonnes output and FINI's demand estimate of 340–350 million tonnes. FINI chairman Arif Perdana Kusuma said several lines in South and Central Sulawesi are running below 50% capacity; smelters are holding minimal output rather than cold-shutting furnaces, which would take months to restart. A member of Indonesia's National Economic Council said the quota was needed to prevent a record surplus, and pointed to $18,000–$20,000/t as the government's target price corridor — cautioning that a significant overshoot above $20,000 would harm nickel end-users.

4 hours ago

5 hours ago

[SMM Nickel Market Flash] Chinese Nickel Majors Eye Africa and Pacific as Indonesia Policy Pressure Mounts

Leading Chinese nickel producers are scouting investment opportunities outside Indonesia as tightening policy conditions test the economics of their Indonesian operations. One major stainless steel group is considering a large-scale industrial park in Madagascar covering nickel and other minerals, inspired by its Indonesian model, while a major HPAL operator is in talks to acquire a stake in an undeveloped nickel sulphide project in Tanzania and has made an offer for a stake in an idled nickel operation in New Caledonia. If completed, these would be the first nickel investments outside Indonesia for both groups. Madagascar lifted a 16-year moratorium on new mining permits in January, though it is currently under a transitional military government following a coup last year.

5 hours ago

Jun 5, 2026 16:56

Macro Headwinds Drive SHFE Nickel Below 140,000 yuan/mt Threshold

Jun 5, 2026 16:56