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Home / Metal News / LME Aluminum Unlikely to Get Rid of Weakness Next Week, SMM Foresees

LME Aluminum Unlikely to Get Rid of Weakness Next Week, SMM Foresees

iconSep 9, 2016 14:18
LME aluminum will remain weak next week, given falling spot aluminum premiums overseas, SMM expects.

SHANGHAI, Sep. 9 (SMM) – LME aluminum will remain weak next week, given falling spot aluminum premiums overseas, SMM expects.

LME aluminum should move between $1,600-1,540 per tonne.

Growing aluminum supply in China will pressure SHFE aluminum, but still low stocks will offer some support. SMM sees SHFE 1611 aluminum struggling around 12,000 yuan per tonne, with price band at 11,850-12,150 yuan per tonne. 

Trading in domestic spot market will improve due to downstream stocking before upcoming Mid-Autumn Festival. Spot premiums should narrow to 50-100 yuan per tonne over SHFE 1609 aluminum due to expanding price spread between SHFE 1609 and 1610 aluminum.      

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


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

For queries, please contact Lemon Zhao at lemonzhao@smm.cn

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

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