The point of RMB15,000/t to be tough defense for Chinese aluminum ingot price
2012-12-28 18:15:31 【Print】
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Demand for Chinese aluminum ingot slowed down due to the slowing down of Chinese economy. Aluminum ingot price dropped a lot in the year of 2012. As the New Year holiday is coming and Spring Festival holiday is approaching, Chinese aluminum ingot price calms down further. 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. 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).
