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SHFE 1710 Aluminum Rises Sharply (2017-8-18)    
Aug 18,2017 18:50CST
price review forecast
Source:SMM
SHFE 1710 aluminum opened at RMB 16,170/mt on Friday.

SHANGHAI, Aug. 18 (SMM) – SHFE 1710 aluminum opened at RMB 16,170/mt on Friday. The contract hit a high of RMB 16,440/mt, but then fell back before ending at RMB 16,350/mt. Trading volumes rose to 543,324 lots, and positions were down 19,378 lots to 368,612 lots. 

For producers on the aluminum industry chain, prebaked anode producers will be hit the most by environmental crackdowns. This is because prebaked anode producers in Shandong and Henan, the country’s top prebaked anode producing provinces, are expected to slash production by half at the most during winter heating season. Some investors, who expect prebaked anode shortage to force aluminum smelters to curtail output, will raise bullish bets. SHFE 1710 aluminum should trade between RMB 16,100-16,700/mt next week. 


 

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