17 AUGUST 2015Shanghai Metal Market
LME aluminum to fall to $ 1,550-1,580 this week, foresees SMM
Edited by : AL CIRCLE
1 min read
LME aluminum will fall to $ 1,550-1,580 per tonne this week, Shanghai Metals Market foresees. Expectations are running that that Chinese aluminum semis will flood into overseas market after Chinese yuan depreciated. This, combined with strong resistance at moving averages, will pressure LME aluminum.
SHFE 1510 aluminum might drop to 19,950-12,150 yuan per tonne, as production cuts are insufficient to offset slowing consumption. In China’s spot market, spot discounts will widen to 40-80 yuan per tonne over SHFE 1508 contract.
SHFE 1510 aluminum might drop to 19,950-12,150 yuan per tonne, as production cuts are insufficient to offset slowing consumption. In China’s spot market, spot discounts will widen to 40-80 yuan per tonne over SHFE 1508 contract.
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