The point of RMB15,000/t to be tough defense for Chinese aluminum ingot price

Demand for Chinese aluminum ingot slowed down due to the slowing down of Chinese economy.Asian Metal Copyright However, aluminum ingot supply keeps increasing this year because of new smelting capacity coming on stream continuously in western China regions, especially in Xinjiang province.Asian Metal Copyright Aluminum ingot price dropped a lot in the year of 2012.Asian Metal Copyright As the New Year holiday is coming and Spring Festival holiday is approaching, Chinese aluminum ingot price calms down further.Asian Metal Copyright As the New Year holiday is coming and Spring Festival holiday is approaching, Chinese aluminum ingot price calms down further.Asian Metal Copyright Furthermore, expectation for the next round of bidding for reserve also supports aluminum ingot price to struggle above the point of RMB15,000t USD2,404t.Asian Metal Copyright However, aluminum ingot supply keeps increasing this year because of new smelting capacity coming on stream continuously in western China regions, especially in Xinjiang province.Asian Metal Copyright The tight transportation for aluminum ingot in these provinces alleviates the pressure from high-held stocks in the market.Asian Metal Copyright The tight transportation for aluminum ingot in these provinces alleviates the pressure from high-held stocks in the market. Furthermore, expectation for the next round of bidding for reserve also supports aluminum ingot price to struggle above the point of RMB15,000/t (USD2,404/t).Asian Metal Copyright As the New Year holiday is coming and Spring Festival holiday is approaching, Chinese aluminum ingot price calms down further.Asian Metal Copyright