07 DECEMBER 2015Shanghai Metal Market
SHFE aluminium to outperform LME aluminium this week
Edited by : AL CIRCLE
1 min read
SHFE aluminium will outperform LME aluminium this week on positive news from China, SMM expects.
Capacity cuts in Chinese aluminium market are intensifying, which will cheer market up. This will push SHFE aluminum up to 10,300-10,500 yuan per tonne, SMM predicts.
A firmer US dollar amid high expectations for US rate hike will keep LME aluminium in check between $1,470-1,500 per tonne.
In China’s spot market, falling stocks will help narrow spot discounts to less than 100 yuan per tonne over SHFE front-month contrat.
Capacity cuts in Chinese aluminium market are intensifying, which will cheer market up. This will push SHFE aluminum up to 10,300-10,500 yuan per tonne, SMM predicts.
A firmer US dollar amid high expectations for US rate hike will keep LME aluminium in check between $1,470-1,500 per tonne.
In China’s spot market, falling stocks will help narrow spot discounts to less than 100 yuan per tonne over SHFE front-month contrat.
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