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China aluminum prices up by 4pct due to steady demand and speculation
Edited by : AL CIRCLE
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China's aluminum prices have risen 4.1% so far this week to hit 15 month high due to steady demand and speculation and this could drive up prices of the metal on the London Metal Exchange.
Traders and analysts said that strong prices are raising worries that Beijing's commodity manager, the State Reserves Bureau will release aluminum stockpiles to ease domestic prices as China aims to fight inflation in the country, the world's top aluminum consumer.
Traders and analysts said that strong prices are raising worries that Beijing's commodity manager, the State Reserves Bureau will release aluminum stockpiles to ease domestic prices as China aims to fight inflation in the country, the world's top aluminum consumer.
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