LME Aluminum to Drop Slower Next Week, SMM Says

Oct 21, 2016 15:07

LME aluminum will fall at a slower pace next week, while movement of SHFE aluminum will face growing uncertainties, SMM expects.

SHANGHAI, Oct. 21 (SMM) – LME aluminum will fall at a slower pace next week, while movement of SHFE aluminum will face growing uncertainties, SMM expects.

SMM sees LME aluminum ranging $1,570-1,630 per tonne.

It is expected that aluminum ingot arrivals from northwest China will increase. However, if arrivals turn out to be lower than expected, SHFE aluminum might regain rising strength. SHFE 1612 aluminum should fluctuate between 12,400-12,660 yuan per tonne.

In east China spot market, spot premiums are expected at 200-400 yuan per tonne over SHFE 1611 aluminum.

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LME Aluminum to Drop Slower Next Week, SMM Says

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