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MYMETAL: China aluminum prices hovering high


Domestic aluminum prices across China continued to hover at high levels over the September 16-22 week, with the national price of 99.7% primary aluminum ingot under Mymetal’s assessment recovering to Yuan 22,774/tonne ($3,521/t) by September 22 after falling from the previous multi-year high to as low as Yuan 22,190/tonne on September 15. The price finally rallied by Yuan 584/t on week. Mymetal is Mysteel’s nonferrous market intelligence arm.
“Primary aluminum prices have surged to a rather high level so pricing risks have piled up, especially in the futures market,” a Shanghai-based nonferrous metal analyst commented. “The past week saw many speculators sell off their long positions for profit-taking – when demand from the downstream market still showed no


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