13 JANUARY 2015Shanghai Metal Market
China spot aluminum to crash through $1,957/ton in Q1 2015, SMM sees
Edited by : AL CIRCLE
1 min read
Spot aluminum in China could crash through 12,000 yuan ($1,957) per tonne in Q1 2015, pressured by worsening supply glut and potential fall in alumina prices, Shanghai Metals Market foresees.
China’s monthly aluminum output is expected to continue rising in Q1. Aluminum consumption, however, might weaken further as processors begin to close heading into the Chinese New Year. Both factors will cause aluminum stocks to mount.
SMM spot aluminum price slumped to 12,730 yuan per tonne January 8. This has left 42% or 12.71 million tonnes of China’s aluminum capacities in losses in cash costs.
China’s monthly aluminum output is expected to continue rising in Q1. Aluminum consumption, however, might weaken further as processors begin to close heading into the Chinese New Year. Both factors will cause aluminum stocks to mount.
SMM spot aluminum price slumped to 12,730 yuan per tonne January 8. This has left 42% or 12.71 million tonnes of China’s aluminum capacities in losses in cash costs.
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