Search
Close this search box.

NEWS

China stainless steel factory

The debt crisis facing China’s leading real estate developers is affecting aluminum prices. On the 12th, aluminum prices are expected to remain stable.

US stocks closed higher, but market sentiment remained uncertain. London aluminum prices were under pressure, closing flat at 2214 USD per ton on the 12th, with a stabilizing trend at a lower level. The trading volume decreased by 2,244 lots to 11,982 lots, and the open interest decreased by 1,396 lots to 617,279 lots. Shanghai aluminum opened lower and fluctuated during the night, closing with a small bearish candle, and the front-month October 2311 contract closed at 19,085 CNY per ton, down by 10 CNY or 0.05%.

London Metal Exchange (LME) aluminum stocks remained unchanged at 492,650 metric tons on October 11.

On October 11, the spot aluminum price in China saw Jiangsu AOO aluminum ingot prices at 19,375 CNY per ton, down 130 CNY per ton, and China Aluminum East AOO aluminum ingot prices at 19,370 CNY per ton, down 140 CNY per ton. The debt crisis of China’s leading real estate developers is weighing on the outlook for metal demand, and investors are cautious due to strong psychological concerns. The real estate industry is a significant consumer of industrial metals. However, the industrial side still provides some support for aluminum prices, as social inventories of aluminum ingots remain at historical lows. Meanwhile, Country Garden has announced its intention to seek a comprehensive solution to its overseas debt crisis, which has somewhat alleviated the anxiety of the public, providing stability to the aluminum market.

New Center

More Posts

Shanghai Aluminum’s supply and demand fundamentals are weakening, with aluminum prices expected to fall on July 5th.

Amid the tug-of-war between the US rate cut expectations and demand concerns, LME aluminum dropped 0.88% overnight; Shanghai aluminum’s supply and demand fundamentals are weakening, with spot consumption cautious and lacking in orders. Aluminum ingot social inventories continue to accumulate, suggesting a potential drop in aluminum prices today. The tug-of-war between US rate cut expectations

Italian flat steel prices rise on supply shortage

According to Kailan International Steel Information on June 18, due to the strikes in some steel mills in recent weeks, European steel manufacturers have accumulated a large number of unplaced orders. On the basis of weak downstream demand, supply has become even weaker, leading to an increase in the transaction price of Italian plates. The

Sustained Rebound, Consolidation

Viewpoint: The macroeconomic guidance is neutral. The sentiment in the non-ferrous metals sector has significantly eased, showing a weak rebound. On the supply side, TC (Treatment Charges) remains sluggish, and the strong reality of tight marginal supply of copper concentrates continues. The previous high copper prices attracted extensive illegal mining in Peru, and whether production

Send Us A Message

CONTACT US

Let's have a chat