Seasonal Lull To Inhibit Upside Room Of Aluminium Prices

SHANGHAI, May 30 (SMM) –US Q1 GDP and employment data showed that the US economy was relatively resilient. Relatively low share of aluminium ingot output at smelters and downstream restocking after aluminium prices slumped allowed social inventories to keep falling. With downstream consumption entering the off-season, the upside room of aluminium prices will be limited. The most-traded SHFE aluminium contract and LME aluminium are expected to move between 17,300-18,700 yuan/mt and $2,170- 2,320/mt respectively this week.