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Home / Metal News / Aluminum Prices to Run Out of Steam This Week, SMM Predicts

Aluminum Prices to Run Out of Steam This Week, SMM Predicts

iconJul 3, 2017 15:06
Source:SMM
Aluminum prices will lose upward momentum and remain stuck in recent range this week, SMM forecasts. 

SHANGHAI, Jul. 3 (SMM) – Aluminum prices will lose upward momentum and remain stuck in recent range this week, SMM forecasts. 

LME aluminum will meet strong resistance at the 60-day moving average and face risks of falling back from highs if other base metals fail to surge. SMM sees LME aluminum moving between $ 1,880-1,920/tonne. 

SMM: Worries Overdone Over Aluminum Output Curbs during Winter Heating Season

June 30 is the deadline for local governments to finish checks on illegal aluminum capacity, and the list of illegal aluminum capacity is expected to be released this week. SHFE 1708 aluminum will fluctuate between 13,750-14,050 yuan/tonne.

Chinese Aluminum Smelters to Face Rising Power Costs, SMM Expects

In domestic spot market, growing supply and weakening demand will widen spot discounts to 140-100 yuan/tonne over SHFE 1707 aluminum.

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

aluminum prices
SHFE aluminum prices
LME aluminum prices

For queries, please contact Michael Jiang at michaeljiang@smm.cn

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