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Home / Metal News / What Is in Store for Aluminum Prices After Disappointing 2015?

What Is in Store for Aluminum Prices After Disappointing 2015?

Jan 1, 2016 21:18

Source:SMM

Aluminum prices spent the past year in downward track, though bottoming out in late 2015. Will the strength continue building up for the light metal as the new year begins?

SHANGHAI, Jan. 1 (SMM) – Aluminum prices spent the past year in downward track, though bottoming out in late 2015. Will the strength continue building up for the light metal as the new year begins?

The answer is yes, SMM’s aluminum analyst predicts.

In fact, SHFE aluminum will continue outperforming LME aluminum, and challenge resistance at 11,000 yuan per tonne, driven by expanding production cuts in China, SMM explained.

LME aluminum will test resistance at $1,550 per tonne.

Tightening supply in China’s spot market and advance downstream stocking ahead of the 2016 Chinese New Year holiday will allow spot prices to trade at premiums of 100 yuan per tonne over SHFE front-month contract.

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