Aluminum Prices to Shine among Base Metals Next Week

SHANGHAI, Dec. 26 (SMM) – Aluminum prices, both on the SHFE and LME, will continue gathering strength next week, as market will continue digesting positive news from China.

Aluminum stocks in China’s major trading markets have been falling for six weeks in a row and destocking accelerated with expanding production cuts.

This will drive SHFE 1603 aluminum up further to 11,000 yuan per tonne and allow spot aluminum in domestic market to trade at premiums over SHFE 1601 aluminum.  

A softer US dollar and strong SHFE aluminum will push LME aluminum up to $1,530-1,560 per tonne.

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