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Excess supply into investors view, aluminium material gains

by:Deyuan      2020-12-23
Sources said the Chinese aluminum semi-finished products will be processing for aluminum, this part of the supply will make one of the market prices this year's rally can be sustained.

as the market is tightening, aluminum prices rally this year. The Shanghai futures exchange registration aluminum stock decline, increased for the forecast of China's aluminium supplies, since march, aluminum stock has fallen by nearly 70% of the previous period.

the aluminum association international ( IAI) 1 -, according to data released China's aluminium production in August 2047. 20000 tons, year-on-year decline in 2. 8%, also confirms this point.

Shanghai aluminum futures contract last month rose to 12650 a tonne, its highest since last may. The LME aluminum futures climbed to $1700 per ton above a 13-month high.

but sources said, people will soon see excess is aluminum semi-finished products processing for aluminum.

AZ - consulting company China's aluminum industry experts said PaulAdkins & other; In the past few weeks, we saw aluminum semi-finished products processed in succession for aluminum ingots. This means that the inventory levels will start to rise, prices will fall. ”

analysts questioned in the survey, is expected to aluminum market oversupply 26 this year. 750000 tons, but sources said the Numbers could be higher.

international aluminum industry association, China accounted for global aluminum production 4. 94 million tons more than half of August.

1 - China's aluminium production by more than 11% year-on-year in August.
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