As of August 31, China’s national price of 99.7% primary aluminum ingot under Mymetal’s assessment had surged to Yuan 21,214/tonne ($3,284/t) including 13% VAT, the highest since the launch of the assessment in April 2007. The price subsequently eased slightly on September 1 to Yuan 21,114/t but was still Yuan 567/t higher on week, according to Mymetal’s data. Mymetal is Mysteel’s nonferrous market intelligence arm.
“Market concern about aluminum supply when a
series of adverse factors are constraining aluminum production is still one of
the major reasons for the steady climb in the light metal’s price,” a
Shanghai-based market analyst commented.
For the time being, the power supply tightness
in many Chinese regions is still impacting local aluminum output. And