The Shanghai Futures Exchange aluminium price uptrend will last at least until the end of June on recently strong downstream demand but new aluminium projects as well imported material may cap that, several aluminium market experts said to Fastmarkets on June 16.
The SHFE aluminium price stood at 13,875 yuan ($1,957) per tonne on June 16, up 270 yuan from Monday's close at 13,600 yuan per tonne. The price entered into an uptrend after falling to an annual low at 11,310 yuan per tonne on March 23, touching a four-month high at 13,930 yuan per tonne last Friday on June 12."We think inventories will continue declining to the end of June at least, which indicates that...