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LME Aluminum to Rebound on Production Cuts in China and Overseas

iconJan 9, 2016 11:15
Source:SMM
LME aluminum is on track for gains next week thanks to production cuts in China and overseas.

SHANGHAI, Jan. 9 (SMM) – LME aluminum is on track for gains next week thanks to production cuts in China and overseas.
Alcoa announced production cuts this past week, and supply in China is tightening as more smelters cut output. 
SMM sees LME aluminum moving between $1,460-1,500 per tonne, versus 10,750-10,900 per tonne for SHFE 1603 aluminum.

In domestic spot market, more aluminum processors will enter the market to replenish stocks after prices stabilize.

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