The international aluminum price fell to six year low due to the high inventory stress

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August 6th international aluminum prices fell to six year low, due to the market’s concern of the main producer country-China’s increased exports make the high inventory and the market becomes more serious.

This three month, the aluminum plate price fell to $1576, the lowest since July 2009, closing at $1592.5, down 0.2%.

In the first half of this year, China’s aluminum raw materials exports to 20412 tons with an increase of 66% than last year. But the more serious situation is that the semi-products exports increased by 44%, to 2.22 million tons.

Macquarie analyst Vivienne Lloyd said, “aluminum market oversupply, China also released its excess supply, 2024 aluminum plate prices to fall to $1500, to make people convinced of the need to close the refinery.” LME al library is about 3400000 tons, but it does not include the stock exchange, and the manufacturer’s inventory.

Posted in Industry.