Weekly SHFE And LME Aluminium Price Review

SHANGHAI, May 30 (SMM) - After opening at 18,355 yuan/mt last Monday, the most-traded SHFE 2307 aluminium contract moved all the way down to 17,455 yuan/mt on Thursday before closing at 18,185 yuan/mt as of CST 15:00 on Friday, down 105 yuan/mt or 0.57% on the week.

LME aluminium opened at $2,288/mt last Tuesday, with its weekly low and high at $2,190/mt and $2,289.5/mt respectively before trading at $2,254/mt as of CST 15:00 on Friday, down $34/mt or 1.49% on the week.

More popular news

India Looking to Make Way for EVs by Shaking Electric Wheelers’ Dominance via Massive Subsidy Cuts, How Will This Affect Chinese Exporters and Upstream LMO？

It’s Urgent for China to Enhance Monetary Policy and Take Other Measures to Tackle Multiple Challenges Facing Economic Recovery, Chines Government-Led Economic Daily Says

Goldman Sachs, Barclays warn: Fed will not cut interest rates this year

Balance of M2, M1 and M0 All Rise, China’s Central Bank Says

China April Lithium Carbonate Import Volumes And Prices Both Crashed From March, Despite A Surge From A Year Ago

SMM Comment: Oil Falls as Remarks by Russian Minister Contradicts Bullish Signal from Saudi Arabia, SHFE and LME Base Metals Outperform Ferrous Metals, Market Bets on US Rate Cut in September

SMM Comment: SHFE and LME Base Metals Mostly Fall, Oil Rise on Supply Jitters after Saudi Arabia Energy Minister Warns He Would Make Short Sellers Suffer, Dollar Falls on US Debt Ceiling Issue

UN and IMF Raise Forecasts for China GDP, Regulators Promise Measures to Boost Growth

Chinese Lithium Carbonate Smelters Have Smaller Appetite for Overseas Spodumene Concentrate, April Customs Data Shows

Lithium Carbonate Price Rally Was Not Driven By Robust Demand Recovery

SMM Morning Comments (May 23): Base Metals Closed Mostly with Losses on US Macro Headwinds

Goldman Sachs: China will be the only major economy with positive growth this year, bullish bets on new energy vehicles and biotechnology in the long run

CITI Research Lowers Price Forecast for Nickel, Aluminium and Zinc in 2023-2024 But Bets on Higher Copper Prices

Goldman Sachs Cuts Copper Price Forecast Amid Slowing Western Manufacturing, But Bank Of America Bets On Higher Copper Prices, Citing A Surge In Demand From China