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Home / Metal News / LME Aluminum to Fall on Negative News (2016-2-3)

LME Aluminum to Fall on Negative News (2016-2-3)

Feb 3, 2016 09:32

Crude oil prices took a hit as hopes for OPEC output cuts fell through.

SHANGHAI, Feb. 3 (SMM) – Crude oil prices took a hit as hopes for OPEC output cuts fell through. Kansas Fed chair made hawkish speech. So, LME aluminum is expected to fall to USD 1,480-1,510/mt on Wednesday.

SHFE 1604 aluminum should move at RMB 10,630-10,700/mt.

See forecast for other base metals, please click: Shanghai Trading to Wane Ahead of Holiday, SMM Says

In China’s spot aluminum market, spot discounts of RMB 50-90/mt are expected over SHFE 1602 contract.

Key Macroeconomic Indicators for Base Metal Prices (2016-2-3)

SHFE aluminum prices

aluminum prices

Al price

base metal price forecast

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market exchanges, and relying on SMM's internal database model, for reference only and do not constitute decision-making recommendations.

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SHFE 1708 aluminum will move at lows of RMB 13,450-13,650/mt today, due to growing stocks, weakening consumption and tightening cash around mid-year.

Jun 16, 2017 09:44

SMM Comments

SHFE Aluminum to Remain Weak (2017-6-16)

SHFE Aluminum to Remain Weak (2017-6-13)

SHFE 1708 aluminum will move at RMB 13,620-13,770/mt, with strong resistance at the 10-day moving average and market sentiment still bearish.

Jun 13, 2017 09:51

SMM Comments

SHFE Aluminum to Remain Weak (2017-6-13)

SMM Price Outlook for Base Metals on SHFE (May 18, 2017)

Base metals mostly finished higher in overnight trading, but price divergence and big resistance at the upper hand were obvious during the trading.

May 18, 2017 09:21

SMM Insight Industry

SMM Price Outlook for Base Metals on SHFE (May 18, 2017)

LME Tin to Perform Better than SHFE Tin (2016-8-25)

LME tin will rise to USD 19,200/mt if it finds holds onto USD 18,600/mt mark.

Aug 25, 2016 09:40

SMM Comments

Chalco Hikes Aluminum Prices in Major Markets on August 24

China Aluminum International Trading Co. (Chalco Trading) raised aluminum prices it offered in major markets today after two days of cuts, it said on its WeChat.

Aug 24, 2016 10:17

Reminder

SHFE Aluminum to Fluctuate at Highs (2016-8-24)

SHFE 1610 aluminum will hover at highs of RMB 12,400-12,550/mt as shorts will be cautious about entering.

Aug 24, 2016 09:38

SMM Comments

Chalco Continues Raising Aluminum Prices in Major Markets on August 19

China Aluminum International Trading Co. (Chalco Trading) raised aluminum prices it offered in major markets further today, it said on its WeChat.

Aug 19, 2016 12:03

Reminder

SHFE 1609 Aluminum Ends with Gains (2016-7-13)

On Tuesday’s night trading, SHFE 1609 aluminum fell to RMB 12,515/mt after opening at RMB 12,555/mt. But prices then followed LME aluminum up to RMB 12,650/mt and closed at RMB 12,570/mt.

Jul 13, 2016 17:46

SMM Comments

Heavy Rains Disrupt Production and Railway Transportation, SMM Reports

From late June, provinces, including Hubei, Anhui, Jiangsu, Jiangxi and Guangdong, are suffering from heavy rainfall. What’s impact from the rain on metals producers in those regions?

Jul 8, 2016 11:56

SMM Insight

SHFE 1609 Aluminum Falls Back After Initial Rise (2016-7-6)

On Tuesday’s night trading, SHFE 1609 aluminum rose to RMB 12,550/mt after opening at RMB 12,480/mt.

Jul 6, 2016 17:54

SMM Comments

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LME Aluminum to Fall on Negative News (2016-2-3)

SMM Events & Webinars

2026 SMM (21th) Lead & Zinc Conference and Industry Expo

2026 (3rd) NET ZERO MEA - Solar & Energy Storage Summit

CLNB 2026 - The 11th New Energy Industry Chain Expo