25 MARCH 2016Bloomberg
China aluminium at 5-month high after Head of Govt says economy stabilizing
Edited by : AL CIRCLE
1 min read
Aluminium in China traded at the highest level in five months after China Premier Li Keqiang said the world’s second-largest economy is showing signs of stabilizing, bolstering the outlook for demand for metals.
Aluminium rose as much as 1.3 per cent to 11,670 yuan ($1,789.71) a metric ton on the Shanghai Futures Exchange, the highest intraday level since October 12, and traded at 11,645 yuan at 9:51 a.m.
• The London Metal Exchange is closed for a public holiday.
• China’s economy has gotten off to a “good and stable” start this year and the government’s low debt levels give policy makers the tools to ensure growth in the range of 6.5 per cent to 7 per cent, Li said at the Boao Forum on Thursday.
Aluminium rose as much as 1.3 per cent to 11,670 yuan ($1,789.71) a metric ton on the Shanghai Futures Exchange, the highest intraday level since October 12, and traded at 11,645 yuan at 9:51 a.m.
• The London Metal Exchange is closed for a public holiday.
• China’s economy has gotten off to a “good and stable” start this year and the government’s low debt levels give policy makers the tools to ensure growth in the range of 6.5 per cent to 7 per cent, Li said at the Boao Forum on Thursday.
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