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The explosion at the Guinea oil depot has sparked supply concerns, leading to a rise in aluminum prices.

The explosion at the Guinea oil depot has sparked supply concerns. Weakness in the US dollar has made dollar-denominated commodities more attractive. London aluminum surged nearly 3.4% to a three-month high in the following week. The rise was driven by active buying from investment funds and solid support from low domestic inventories. Aluminum prices in China are expected to remain high in the short term.

On December 22nd, LME aluminum stocks rose by 500 tons to 508,650 tons. On the same day, spot aluminum prices in China were reported at 19,115 yuan/ton for Jiangsu A00 aluminum ingots, up 160 yuan/ton, and 19,120 yuan/ton for Chinalco East China A00 aluminum ingots, up 160 yuan/ton. The active buying from investment funds has driven the strength of aluminum prices, and the low domestic inventory has provided strong support. Additionally, last Friday, China’s five major banks lowered some deposit rates, which investors viewed as a positive signal for further interest rate cuts to stimulate economic growth, significantly boosting market sentiment and further pushing up aluminum prices.

Furthermore, the surge in LME aluminum futures last Friday reached a three-month high, also driving up domestic futures markets. It is expected that Shanghai aluminum will remain at a high level in the short term, and spot aluminum may rise today.

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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

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