-
Categories
-
Pharmaceutical Intermediates
-
Active Pharmaceutical Ingredients
-
Food Additives
- Industrial Coatings
- Agrochemicals
- Dyes and Pigments
- Surfactant
- Flavors and Fragrances
- Chemical Reagents
- Catalyst and Auxiliary
- Natural Products
- Inorganic Chemistry
-
Organic Chemistry
-
Biochemical Engineering
- Analytical Chemistry
-
Cosmetic Ingredient
- Water Treatment Chemical
-
Pharmaceutical Intermediates
Promotion
ECHEMI Mall
Wholesale
Weekly Price
Exhibition
News
-
Trade Service
According to foreign news on October 16, the London Metal Exchange (LME) period aluminum price closed higher on Friday, hitting a more than 17-month high during the session, strong demand from major consumer China, expectations of economic growth and rising demand in the rest of the world, and a weaker dollar all promoted buying momentum
.
At 17:00 London time on October 16 (00:00 Beijing time on October 17), LME three-month aluminum rose 1% to settle at $
1,870.
50 per tonne.
Aluminum prices earlier hit $1,872.
50 a tonne, the highest level
since late April 2019.
Richard Fowler, a strategic adviser at brokerage firm Simpson Spence Young, said the macro situation is positive, the dollar is weakening and demand in China has been very strong
.
Some time ago, there was indeed some hedging from producers, but it was in
a fairly strong uptrend.
China's imports of unwrought aluminium and aluminium products reached 429,464 tonnes in August, the highest level in more than 11 years, compared with 119,145 tonnes
in May.
Wen yuYao, an analyst at ING, said in a report that September import data has not yet been released, but there are rumors that the total import volume in September may continue to climb
.
China's inventories have largely stabilized
after a sharp decline in the second quarter.
Inventory levels are now 25% below the year-ago quarter and well below the five-year average
.
A falling dollar boosted the attractiveness of dollar-denominated commodities to non-dollar holders, spurring demand and boosting prices
.
The survey shows that manufacturing activity and new orders are growing globally except China, which is expected to soon be reflected in increased demand for industrial metals
.
