07 MARCH 2016Shanghai Metal Market
LME aluminium to gather more strength this week
Edited by : AL CIRCLE
1 min read
LME aluminium will gather more rising steam this coming week on positive sentiment in Chinese market, SMM sees.
Expectations for demand recovery in Chinese aluminium market will drive LME aluminium up to challenge resistance at $ 1,600 per tonne.
The first half of the year will not see massive restarts of idled aluminium capacity and commissioning of new aluminium capacity in China. So, supply will remain tight for the near term.
Spot discounts in China are expected at 80-40 yuan per tonne over SHFE 1603 aluminium contract, with suppliers holding back goods at lows.
Expectations for demand recovery in Chinese aluminium market will drive LME aluminium up to challenge resistance at $ 1,600 per tonne.
The first half of the year will not see massive restarts of idled aluminium capacity and commissioning of new aluminium capacity in China. So, supply will remain tight for the near term.
Spot discounts in China are expected at 80-40 yuan per tonne over SHFE 1603 aluminium contract, with suppliers holding back goods at lows.
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