24 FEBRUARY 2013World Aluminium Market
Chinese Aluminium Inventory Reached New High
Edited by : AL CIRCLE
1 min read
Due to the over speed of supply growing rate, Chinese main trade area’s aluminium inventory estimated to reach new high in record. This will intensify the over supply of non-ferrous situation in the world.
According to research of four cities, the inventory of aluminium has risen to 1.11 million tonnes from 750 thousand tonnes a year ago. The analyst from our website said that 6 cities including Shanghai have a inventory of over 1.15 million tonnes.
Data shows that the new capacity growth of northwest areas in China hasn’t been absorbed, which may affect aluminium price. In the last year, aluminium price in London has fallen 6.7%. Berkeley said on Feb 15th that the surplus of production compared to needs will increase to 1.82 million tonnes from 1.49 million tonnes in 2012.
Chunhui Wang from Shanghai Metals Market told us in a telephone interview, there is no doubt that aluminium inventory will further increase and may exceed 1.2 million this year.
In the past 12 months, LME aluminium price was lower than copper, tin, lead and zinc. The LME closing price of aluminium yesterday was $2103 per ton.
According to research of four cities, the inventory of aluminium has risen to 1.11 million tonnes from 750 thousand tonnes a year ago. The analyst from our website said that 6 cities including Shanghai have a inventory of over 1.15 million tonnes.
Data shows that the new capacity growth of northwest areas in China hasn’t been absorbed, which may affect aluminium price. In the last year, aluminium price in London has fallen 6.7%. Berkeley said on Feb 15th that the surplus of production compared to needs will increase to 1.82 million tonnes from 1.49 million tonnes in 2012.
Chunhui Wang from Shanghai Metals Market told us in a telephone interview, there is no doubt that aluminium inventory will further increase and may exceed 1.2 million this year.
In the past 12 months, LME aluminium price was lower than copper, tin, lead and zinc. The LME closing price of aluminium yesterday was $2103 per ton.
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