21 AUGUST 2012Steel Guru
China manufacturers buy more aluminium due to low LME price
Edited by : AL CIRCLE
1 min read
Reuters reported that Chinese manufacturing plants and merchants have increased purchases of spot primary aluminium in Asia to take advantage of London Metal Exchange prices that are down more than a fifth from their year highs.
Traders said that the spike in buying by the world's top aluminium consumer comes despite premiums for spot metal over LME prices rising by a quarter since late May and could help prop up LME prices.
Traders said that the spike in buying by the world's top aluminium consumer comes despite premiums for spot metal over LME prices rising by a quarter since late May and could help prop up LME prices.
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