SHFE aluminium to see big volatility

China will release money supply for May today. Six Chinese aluminium smelters will hold a meeting today to discuss aluminium prices. This will leave SHFE 1608 aluminium moving widely between RMB 11,750-11,970/mt today.

A strong dollar will send LME aluminium down to USD 1,560-1,580/mt.

In China’s spot aluminium market, spot premiums of RMB 0-40/mt are expected over SHFE 1606 aluminium contract.

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