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SHFE Aluminum to See Greater Volatility Next Week, SMM Expects
Nov 4,2016 13:24CST
smm insight
Source:SMM
SHFE aluminum will swing more widely next week, while LME aluminum will see range-bound trading, SMM predicts.

SHANGHAI, Nov. 4 (SMM) – SHFE aluminum will swing more widely next week, while LME aluminum will see range-bound trading, SMM predicts.

Changes in domestic aluminum stocks will have big impact on SHFE aluminum. SHFE 1701 aluminum will move between 13,100-13,700 yuan/tonne, while LME aluminum should trade between $ 1,690-1,750/tonne.

While growing arrivals by truck have helped ease supply tightness slightly, overall aluminum stocks remain low. Aluminum prices in east China spot market should trade at premiums of 250-350 yuan/tonne over SHFE 1611 aluminum.

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