LME Aluminum to Find Rising Strength from SHFE Aluminum, SMM Expects

Published: Apr 30, 2016 10:07

Save

LME aluminum will find rising strength from SHFE aluminum this coming week, SMM predicts.

SHANGHAI, Apr. 30 (SMM) –LME aluminum will find rising strength from SHFE aluminum this coming week, SMM predicts.

SMM sees LME aluminum advancing to $1,640-1,700 per tonne.

Aluminum stocks in China’s major markets continue falling, due to limited capacity restarts and new capacity release. Tight supply bode well for SHFE aluminum in the medium term. This coming week will see SHFE 1607 aluminum face selling pressure at highs but find strong support at 12,500 yuan per tonne.

Spot aluminum is expected to trade at discounts of 0-20 yuan per tonne over SHFE 1605 aluminum.

China April manufacturing PMI and US April non-farm payrolls, due for release this week, are expected to be positive.

For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn.

aluminum prices SHFE aluminum prices LME aluminum prices

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

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

1 hour ago

Intraday Platinum Prices Rose Sharply, While Spot Trading Softened [SMM Daily Review]

1 hour ago

4 hours ago

Silver Price Forecast: XAG/USD recovers major early losses, outlook remains uncertain

Silver price (XAG/USD) claws back a majority of its early losses and recovers to near its opening price around $84.00 during the European trading session on Monday.

4 hours ago

Mar 9, 2026 12:04

Intraday Platinum Prices Fell, with Relatively Active Spot Trading [SMM Daily Review]

Mar 9, 2026 12:04