17 DECEMBER 2014AlCircle.com
China’s weakening economy affects aluminium prices
Edited by : AL CIRCLE
1 min read
As the industrial data from China, the world’s biggest aluminium consumer continues to be poor, aluminium prices are seen to dip further down on Tuesday hitting its lowest levels in two months.
China is constantly sending out signs signaling its weakening economy and the recent decline in its factory sector activities in December for the first time in the past seven months, has been the latest sign.
An analyst from the Commerzbank in Frankfurt, Daniel Briesemann said that the continuous weak data received from China over the past few weeks indicate that the prices will not get better any time soon and are likely to dip lower in future.
Prices on LME for the metal due for three-month delivery was down by 0.5% at $1,913, dipping lower than the two-month low of $1,909.50.
China is constantly sending out signs signaling its weakening economy and the recent decline in its factory sector activities in December for the first time in the past seven months, has been the latest sign.
An analyst from the Commerzbank in Frankfurt, Daniel Briesemann said that the continuous weak data received from China over the past few weeks indicate that the prices will not get better any time soon and are likely to dip lower in future.
Prices on LME for the metal due for three-month delivery was down by 0.5% at $1,913, dipping lower than the two-month low of $1,909.50.
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