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) .