LME Aluminum Poised for More Gains Next Week

SHANGHAI, Feb. 20 (SMM) – LME aluminum is on track for gains next week on improved market sentiment, SMM says.

LME aluminum should rise to $1,520-1,560 per tonne.

See SMM survey, please click:About 71% of Chinese Aluminum Smelters Bullish over Aluminum Prices This Week, SMM Survey

SHFE aluminum will advance to 11,100-11,400 per tonne, due to anticipation for a turnaround in aluminum consumption after the week-long holiday. Besides, aluminum stocks in major markets grew slower than post-holiday levels seen last year. 

Spot discounts in China will narrow to 150 yuan per tonne, thanks to returning of aluminum processors from the holiday. 

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