22 FEBRUARY 2016Shanghai Metal Market
LME aluminum poised for more gains next week
Edited by : AL CIRCLE
1 min read
LME aluminum is on track for gains next week on improved market sentiment, SMM says.
LME aluminum should rise to $1,520-1,560 per tonne.
SHFE aluminum will advance to 11,100-11,400 per tonne, due to anticipation for a turnaround in aluminum consumption after the week-long holiday. Besides, aluminum stocks in major markets grew slower than post-holiday levels seen last year.
Spot discounts in China will narrow to 150 yuan per tonne, thanks to returning of aluminum processors from the holiday.
LME aluminum should rise to $1,520-1,560 per tonne.
SHFE aluminum will advance to 11,100-11,400 per tonne, due to anticipation for a turnaround in aluminum consumption after the week-long holiday. Besides, aluminum stocks in major markets grew slower than post-holiday levels seen last year.
Spot discounts in China will narrow to 150 yuan per tonne, thanks to returning of aluminum processors from the holiday.
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