SHANGHAI, Jun. 13 (SMM) – China will release money supply for May today. Six Chinese aluminum smelters will hold a meeting today to discuss aluminum prices. This will leave SHFE 1608 aluminum moving widely between RMB 11,750-11,970/mt today.
A strong dollar will send LME aluminum down to USD 1,560-1,580/mt.
In China’s spot aluminum market, spot premiums of RMB 0-40/mt are expected over SHFE 1606 aluminum contract.