SMM Sees Aluminum as Worst Performer among Base Metals

Published: Jul 31, 2017 11:31

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Aluminum will underperform other base metals this week, given the lack of further production cuts and poor market fundamentals, SMM predicts.

SHANGHAI, Jul. 31 (SMM) – Aluminum will underperform other base metals this week, given the lack of further production cuts and poor market fundamentals, SMM predicts.

Impact on Aluminum Output to Expand as Henan Voluntarily Joins Winter Cuts

That said, any downward corrections will be limited since supply side reform will offer some support, SMM added.

Profit Expands Further at Aluminum Smelters in China, SMM Says

SHFE 1709 aluminum will slide to 14,250-14,500 yuan/tonne, while LME aluminum should drop to $ 1,915-1,940/tonne.

In domestic spot market, rising stocks and poor consumption will widen spot discounts slightly to 170-130 yuan/tonne.

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aluminum prices SHFE aluminum prices 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.

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