16 NOVEMBER 2015Shanghai Metal Market
SMM sees LME aluminium mired around $1,500 per tonne this week
Edited by : AL CIRCLE
1 min read
LME aluminium will be stuck around $1,500 per tonne next week, SMM says.
Weak SHFE aluminium , a firm US dollar and concerns over demand in China will keep LME aluminium in check.
SHFE aluminium should range 10,100-10,350 yuan per tonne, as market fundamentals remain poor.
In China’s spot market, year-end cash crunch will leave some smelters anxious to sell and curtail buying activity. So, spot discounts will widen to 120-160 yuan per tonne over SHFE front-month contract.
Weak SHFE aluminium , a firm US dollar and concerns over demand in China will keep LME aluminium in check.
SHFE aluminium should range 10,100-10,350 yuan per tonne, as market fundamentals remain poor.
In China’s spot market, year-end cash crunch will leave some smelters anxious to sell and curtail buying activity. So, spot discounts will widen to 120-160 yuan per tonne over SHFE front-month contract.
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