Further Declines in Store for LME Aluminum This Week, SMM Predicts

Published: Jun 12, 2017 10:00

Save

LME aluminum is on track for more declines this week, SMM expects.

SHANGHAI, Jun. 12 (SMM) – LME aluminum is on track for more declines this week, SMM expects.

Softening overseas demand will pressure aluminum prices. Some aluminum buyers in Japan agreed to set aluminum premiums at $119/tonne for Q3 shipments, down 7% from $128/tonne in Q2 and marking the first fall in three quarters.

Collections of 2017-2018 Aluminum Price Forecasts by Global Major Research Firms

Besides, badly performed SHFE aluminum will not offer support to LME aluminum, either, SMM explained.

LME aluminum could drop to $1,870-1,920/tonne this week.

Chalco Cuts Aluminum Prices across Major Markets on June 12
For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn.

LME aluminum prices

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

12 mins ago

Sellers Show a Strong Willingness to Hold Prices Firm, While Premiums Continue to Narrow [SMM Spot Aluminum Midday Review]

12 mins ago

22 mins ago

Vietnam, Russia Sign Deal for First Nuclear Power Plant in Ninh Thuan, Boosting Energy Diversification

[SMM Aluminum Express News] Vietnam and Russia have signed an agreement in Moscow to develop Vietnam’s first nuclear power plant following talks between Prime Minister Pham Minh Chinh and Prime Minister Mikhail Mishustin. The project includes two nuclear plants with a combined capacity of 400MW in former Ninh Thuan province (now Khanh Hoa), marking a major step in Vietnam’s long-term energy diversification strategy. The agreement is expected to strengthen cooperation in high technology, research, and industrial development, while supporting Vietnam’s rapidly rising electricity demand. The Government estimates that power consumption will increase by 12-13percent in 2025 and reach 1,200 billion kWh by 2045

22 mins ago

29 mins ago

Middle East Situation Remained Unclear; Aluminum Prices Were Expected to Fluctuate and Adjust in the Short Term [SMM Aluminum Price Weekly Review]

[SMM Aluminum Weekly Review: The Situation in the Middle East Remained Unclear, and Aluminum Prices Were Expected to Fluctuate and Adjust in the Short Term]

29 mins ago