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

Say “NO” to foreign high-price monopolies! The core technology of the laser probe series has been independently controlled by domestic manufacturers!

Since 2010, Leimu Company has always adhered to the core concepts of technological innovation and precision manufacturing, committed to the independent research and development of metallurgical probes, and successfully launched a series of products including oxygen-determining probes, auxiliary gun probes, grenade-type probes and hydrogen-determining probes. A variety of high-quality probe products. With its profound accumulation

Send Us A Message

CONTACT US

Let's have a chat