Aluminum Market Report December 2012
2013-01-11 09:31:50 【Print】
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Abstract
Chinese aluminum ingot market slows down gradually as New Year and Spring Festival holidays approach. State Reserve Bureau still did not take any action for the second round bidding to by aluminum ingot in December, disappointing market participants. Furthermore, orders for aluminum semi-products decreased gradually. Thus aluminum ingot price did not get any support and started to go down further in December. The price once got closer to RMB15,000/t (USD2,405/t). The tight transportation made aluminum ingot from northwestern and southwestern smelting plants hard to get delivered, alleviating the pressure from high-held stocks in the market. Aluminum ingot price stop dropping in late December.
Chinese aluminum ingot market slows down gradually as New Year and Spring Festival holidays approach. State Reserve Bureau still did not take any action for the second round bidding to by aluminum ingot in December, disappointing market participants. Furthermore, orders for aluminum semi-products decreased gradually. Thus aluminum ingot price did not get any support and started to go down further in December. The price once got closer to RMB15,000/t (USD2,405/t). The tight transportation made aluminum ingot from northwestern and southwestern smelting plants hard to get delivered, alleviating the pressure from high-held stocks in the market. Aluminum ingot price stop dropping in late December.
