Shanghai Metals Market
LME aluminium to consolidate at highs next week, SMM expects
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Aluminium prices on the LME and SHFE will consolidate at current highs while searching for direction next week, SMM foresees.
SMM sees ME aluminium between $1,630-1,680 per tonne and SHFE 1610 aluminium between 12,100-12,500 yuan per tonne. Low aluminium stocks in China will offer support to SHFE aluminium.
Spot aluminium in east China market is expected to trade at premiums of 100-150 yuan per tonne over SHFE 1609 aluminium.
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