28 DECEMBER 2015Shanghai Metal Market
Aluminium prices to shine among base metals this week
Edited by : AL CIRCLE
1 min read
Aluminium prices, both on the SHFE and LME, will continue gathering strength this week, as market will continue digesting positive news from China.
Aluminium stocks in China’s major trading markets have been falling for six weeks in a row and destocking accelerated with expanding production cuts. This will drive SHFE 1603 aluminium up further to 11,000 yuan per tonne and allow spot aluminium in domestic market to trade at premiums over SHFE 1601 aluminium.
A softer US dollar and strong SHFE aluminium will push LME aluminium up to $1,530-1,560 per tonne.
Aluminium stocks in China’s major trading markets have been falling for six weeks in a row and destocking accelerated with expanding production cuts. This will drive SHFE 1603 aluminium up further to 11,000 yuan per tonne and allow spot aluminium in domestic market to trade at premiums over SHFE 1601 aluminium.
A softer US dollar and strong SHFE aluminium will push LME aluminium up to $1,530-1,560 per tonne.
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