LME Aluminum to Consolidate at Highs Next Week, SMM Expects

Aug 12, 2016 15:30

Source:SMM

Aluminum prices on the LME and SHFE will consolidate at current highs while searching for direction next week, SMM foresees.

SHANGHAI, Aug. 12 (SMM) – Aluminum prices on the LME and SHFE will consolidate at current highs while searching for direction next week, SMM foresees.

SMM sees ME aluminum between $1,630-1,680 per tonne and SHFE 1610 aluminum between 12,100-12,500 yuan per tonne. Low aluminum stocks in China will offer support to SHFE aluminum.

Spot aluminum in east China market is expected to trade at premiums of 100-150 yuan per tonne over SHFE 1609 aluminum. For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn.

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LME Aluminum to Consolidate at Highs Next Week, SMM Expects

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