SHANGHAI, Oct. 14 (SMM) – LME aluminum will meet growing resistance, while SHFE aluminum will gather strength from low stocks, SMM says.
LME aluminum will move at $1,670-1,710/mt, pressured by strong dollar and weaker yuan. SHFE 1611 aluminum will advance to 12,500-13,000 yuan per tonne.
Spot premiums in domestic market will return to 200 yuan per tonne over SHFE 1611 aluminum.
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