Date: 20 October 2016 , 00:00
News ID: 637
NEWS SERVICE: Non-Ferrous

Aluminum at 2-Week Low

Aluminum prices fell to two-week lows on Monday due to worries about Chinese producers ramping up output and adding to the surplus being created by semi-finished products being remelted, Reuters reported.
Aluminum at 2-Week Low

Benchmark aluminum on the London Metal was down 1.4% at $1,652 a ton from an earlier $1,647, its lowest since Sept 28. China accounts for more than half of global aluminum production estimated this year at around 58 million tons. It makes more than it needs and exports the surplus. “Production of primary aluminum is coming back in China,” said Carsten Menke, analyst at Julius Baer.

source: Financial Tribune
Aluminum prices Chinese semi-finished products Aluminum London Metal export Carsten Menke Julius Baer
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