WEEKLY: China Al prices stay rangebound, output picks up

Chinese prices of primary aluminum were rangebound during June 1-7 as domestic market sentiment fluctuated, Mysteel Global learned. Market watchers cited the mixed macro-economic outlook globally and the continued weakening of the light metal's fundamentals.

As of June 7, the country's national spot price of 99.7% primary aluminum under Mysteel's assessment was at Yuan 18,406/tonne ($2,579/t) including the 13% VAT, up by a small Yuan 97/t from May 31. The continuous slide in the Purchasing Managers Index for the global manufacturing industry reflected the fact