SMM Sees Aluminum Prices Trapped in Recent Range-Shanghai Metals Market

Hot Keywords

  • Inventory data
  • Air pollution
  • Macroeconomics
  • Production data
  • Futures movement
  • Zinc
  • Aluminium
  • hydrogenation stations
  • Nickel
  • Copper
  • Market commentary
  • nickel laterite
  • In the United States
  • Morning comments
  • Nickel ore

SMM Sees Aluminum Prices Trapped in Recent Range

SMM Insight 03:02:14PM Jun 26, 2017 Source:SMM

SHANGHAI, Jun. 26 (SMM) –Aluminum prices will be stuck in recent range this week, unless more news on output cuts pops up, SMM understands. 

SHFE aluminum will face selling pressure from hedging funds while finding support from policy anticipation. Wait-and-see sentiment will prevail for the rest of June since market is expecting that Shandong, Xinjiang and Inner Mongolia may release the list of aluminum smelters ordered to close illegal capacity.   

SMM Breaking News: Let’s Calm Down and Turn Back to Aluminum Industry Chain Itself 

SHFE 1708 aluminum will move mainly between 13,750-13,950 yuan/tonne, versus $ 1,860-1,885/tonne for LME aluminum. 

Spot discounts in domestic market are expected to expand slightly to around 120 yuan/tonne over SHFE 1707 aluminum. 

Aluminum Applications in Passenger Vehicles to See Small Peak in 2019, SMM Predicts

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

SMM Sees Aluminum Prices Trapped in Recent Range

SMM Insight 03:02:14PM Jun 26, 2017 Source:SMM

SHANGHAI, Jun. 26 (SMM) –Aluminum prices will be stuck in recent range this week, unless more news on output cuts pops up, SMM understands. 

SHFE aluminum will face selling pressure from hedging funds while finding support from policy anticipation. Wait-and-see sentiment will prevail for the rest of June since market is expecting that Shandong, Xinjiang and Inner Mongolia may release the list of aluminum smelters ordered to close illegal capacity.   

SMM Breaking News: Let’s Calm Down and Turn Back to Aluminum Industry Chain Itself 

SHFE 1708 aluminum will move mainly between 13,750-13,950 yuan/tonne, versus $ 1,860-1,885/tonne for LME aluminum. 

Spot discounts in domestic market are expected to expand slightly to around 120 yuan/tonne over SHFE 1707 aluminum. 

Aluminum Applications in Passenger Vehicles to See Small Peak in 2019, SMM Predicts

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