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MYMETAL: Possible new supplies in China stress aluminum

ABSTRACT

China’s primary aluminum prices had been spiraling down over August 24-28 under the pressure of the commissioning of new aluminum capacities nationwide, according to the latest weekly report from Mymetal, Mysteel’s nonferrous metals data collection arm.
China’s national price of 99.7% aluminum ingot reversed down Yuan 109/tonne ($16/t) on week to Yuan 14,668/t including 13% VAT as of August 28, though still hovering at a high level so far this year, according to Mymetal’s assessment. Prompted by comparatively high ingot prices, Chinese aluminum producers have been beefing

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