SHANGHAI, May 14 (SMM) – Aluminum prices in China will be supported by strong market fundamentals, while LME aluminum will remain weak, SMM predicts.
LME aluminum should trade at $1,500-1,570/mt. SHFE 1507 aluminum looks set to rebound to 11,800-12,300 yuan per tonne, with limited capacity restarts.
Aluminum stocks in China’s major markets continued falling. Aluminum billet destocking sped up in Nanhai. Tight supply will expand spot premiums to 0-50 yuan per tonne over SHFE front-month aluminum.
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