SMM Sees Aluminum as Worst Performer among Base Metals -Shanghai Metals Market

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SMM Sees Aluminum as Worst Performer among Base Metals 

SMM Insight 11:31:56AM Jul 31, 2017 Source:SMM

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. 

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

SMM Sees Aluminum as Worst Performer among Base Metals 

SMM Insight 11:31:56AM Jul 31, 2017 Source:SMM

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. 

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