Capacity Cut Rumor to Allow SHFE Aluminum Outperform LME Aluminum, SMM Expects-Shanghai Metals Market

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

SMM Insight 10:32:19AM May 15, 2017 Source:SMM

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.

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

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

SMM Insight 10:32:19AM May 15, 2017 Source:SMM

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.

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