Shanghai aluminum prices to rise on expectations of positive policies

Shanghai aluminum prices are expected to rise on expectations of positive policies in China, Shanghai Metals Market’s interview shows.

China is going to hold the 2015 NPC & CPPCC sessions soon, and favorable policies are expected to be rolled out during the meeting, which will provide an opportunity for domestic aluminum prices to rise, an analyst from Galaxy Futures told SMM in an interview.

It has been more than 1 year since Indonesia’s export ban on bauxite, and it will be unreasonable for aluminum prices to stay below production costs for longer time, the analyst said.

The analyst also added that market trading will also pick up with the returning of Chinese investors after the week-long holiday.

During the Chinese New Year holiday, LME aluminum stabilized at $1,810 per tonne after initially falling below $1,800 per tonne.

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