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Home / Metal News / Capacity Cut Rumor to Allow SHFE Aluminum Outperform LME Aluminum, SMM Expects

Capacity Cut Rumor to Allow SHFE Aluminum Outperform LME Aluminum, SMM Expects

May 15, 2017 10:32

Source:SMM

LME aluminum will perform not as well as SHFE aluminum this week, SMM foresees.

SHANGHAI, May 15 (SMM) –LME aluminum will perform not as well as SHFE aluminum this week, SMM foresees.

SMM sees LME aluminum mainly trading between $ 1,865-1,905/tonne. SHFE 1707 aluminum will strengthen and mainly trade between 13,800-14,100 yuan/tonne as rumor is circulating that Shandong will release detailed implementation program for capacity cuts soon.

Rusal: Global Aluminum Deficit to Widen in 2017

In domestic spot market, despite low selling interest of smelters, softening consumption and high inventories will cause spot discounts to widen to 20-70 yuan/tonne after delivery of SHFE 1705 aluminum.

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LME aluminum should move at highs of USD 1,950-1,975/mt today.

Apr 26, 2017 09:40

SMM Comments

LME Aluminum to Fluctuate at Highs (2017-4-26)

SHFE Aluminum to Closes Lower (2016-12-22)

SHFE 1702 aluminum opened at RMB 12,885/mt and finally closed at RMB 12,800/mt.

Dec 22, 2016 17:41

SMM Comments

SHFE Aluminum to Closes Lower (2016-12-22)

Macquarie Hikes Forecast for Base Metals in 2017 and 2018

Macquarie raised its forecast for most base metals in the next two years, wenhua.com reported.

Dec 20, 2016 14:09

Industry Reminder

Macquarie Hikes Forecast for Base Metals in 2017 and 2018

SHFE Aluminum to Move Lower (2016-12-20)

LME aluminum will range at USD 1,700-1,720/mt on Tuesday and SHFE 1702 aluminum will move at RMB 12,500-12,720/mt.

Dec 20, 2016 09:49

SMM Comments

SHFE Aluminum to Move Lower (2016-12-20)

LME Aluminum to Set with Losses (2016-12-19)

LME aluminum will range between USD 1,702-1,725/mt with negative sentiment on Monday and SHFE 1702 aluminum is expected to move at RMB 12,500-12,960/mt.

Dec 19, 2016 10:15

SMM Comments

LME Aluminum to Set with Losses (2016-12-19)

SHFE Aluminum Finishes Lower (2016-12-16)

SHFE 1702 aluminum opened at RMB 13,020/mt and finally closed at RMB 12,915/mt.

Dec 16, 2016 19:46

SMM Comments

Main sea freight index at Baltic Exchange falls further to 1,069 points

The main sea freight index at Baltic Exchange for ships carrying dry bulk commodities fell further to 1,069 points on Monday mainly due to weak cape and panamax indices.

Dec 13, 2016 17:10

Industry

LME Aluminum to Strength (2016-12-12)

LME aluminum will range between USD 1,735-1,760/mt on Monday and SHFE 1702 aluminum will move at RMB 13,300-13,500/mt.

Dec 12, 2016 09:38

SMM Comments

SHFE Aluminum Ends with Gains (2016-12-9)

SHFE 1702 aluminum started at RMB 13,080/mt and finally closed at RMB 13,320/mt.

Dec 9, 2016 20:35

SMM Comments

SHFE Aluminum to See Range-Bound Trading (2016-9-2)

SHFE 1610 aluminum will struggle around the 5-day moving average due to strong market caution, with prices expected at RMB 12,100-12,250/mt.

Sep 2, 2016 09:25

SMM Comments

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Capacity Cut Rumor to Allow SHFE Aluminum Outperform LME Aluminum, SMM Expects

SMM Events & Webinars

APAC (9th) Stainless Steel Industry Conference 2024

2024 SMM Middle East Secondary Metal Field Trip

NET ZERO MEA - Solar & Energy Storage