03 AUGUST 2011alu.com
Aluminum May Gain 9% in Shanghai on Tight Supply, Stanchart Says
Edited by : AL CIRCLE
1 min read
Aluminum prices in China may rise about 9 percent “in coming weeks” amid concerns about a shortage in the world’s largest consumer and producer of the metal, according to Standard Chartered Plc analyst Judy Zhu.
Aluminum on the Shanghai Futures Exchange may advance to 20,000 yuan ($3,106) a metric ton, Zhu said in a report today. The metal has advanced 8.9 percent in Shanghai this year to close at 18,340 yuan today, outpacing a 4.6 percent gain by futures on the London Metal Exchange.
Aluminum on the Shanghai Futures Exchange may advance to 20,000 yuan ($3,106) a metric ton, Zhu said in a report today. The metal has advanced 8.9 percent in Shanghai this year to close at 18,340 yuan today, outpacing a 4.6 percent gain by futures on the London Metal Exchange.
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