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: email@example.com or firstname.lastname@example.org.