More Gains in Sight for LME Aluminum After 7-Month High, SMM Predicts

Published: Apr 22, 2016 19:54

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LME aluminum will see more gains this coming week after hitting a 7-month high, SMM expects.

SHANGHAI, Apr. 22 (SMM) – LME aluminum will see more gains this coming week after hitting a 7-month high, SMM expects.

SMM sees LME aluminum at $1,620-1,660 per tonne, driven mainly by strong SHFE aluminum.

Aluminum stocks in China continued falling, and this will drive SHFE 1606 aluminum up to 12,800 yuan per tonne.

In domestic spot market, downstream stocking for upcoming May Day holiday will allow spot aluminum to trade at discounts of 0-10 yuan per tonne over SHFE 1605 aluminum.

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aluminum prices LME aluminum prices SHFE aluminum prices

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