China’s national price of 99.7% primary aluminum ingot under Mymetal’s assessment soared further to Yuan 21,668/tonne ($3,351/t) including 13% VAT as of September 7, refreshing the new high since the launch of the assessment in April 2007. Mymetal is Mysteel’s nonferrous market intelligence arm. The jump was propelled by continuing market concerns regarding supply, even though domestic demand for the light metal remains dull.
“For now, the
concerns about disruptions to aluminum supply are still prevailing in the
market, overwhelming any factor that may erode market sentimentand cause
prices to soften,” a Shanghai-based market analyst commented.
in Yunnan and Guangxi provinces in Southwest China are still struggling with power
supply constraints as Beijing remains determined to reduce energy