LME aluminium to consolidate at highs next week, SMM expects

Aluminium prices on the LME and SHFE will consolidate at current highs while searching for direction next week, SMM foresees.

SMM sees ME aluminium between $1,630-1,680 per tonne and SHFE 1610 aluminium between 12,100-12,500 yuan per tonne. Low aluminium stocks in China will offer support to SHFE aluminium.

Spot aluminium in east China market is expected to trade at premiums of 100-150 yuan per tonne over SHFE 1609 aluminium.

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