WEEKLY: Market gloom sends China Al prices lower

Chinese prices of primary aluminum lost ground during May 18-25 under the pressure of a gloomy macro-economic outlook and lukewarm demand from end-users, Mysteel Global learned.

As of May 25, the country's national spot price of 99.7% primary aluminum had dropped Yuan 484/tonne ($68.5/t) or 2.6% from May 18 to Yuan 18,124/t including the 13% VAT, according to Mysteel's assessment. In tandem, the most-traded aluminum contract for July delivery on the Shanghai Futures Exchange closed lower