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.