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March 2018 | Aluminium Weekly Market Tracker


Al price decreased as SHFE stocks hit new high: Market Summary and Analysis


Ning Jizhe, deputy director of China’s National Development and Reform Commission (NDRC), announced last Tuesday that China will continue to curtail domestic aluminium capacity this year to further advance its supply-side structural reform agenda.

Al price decreased as SHFE stocks hit new high The weekly average LME aluminium cash price declined 2.4% to $2,108.9/tonne last week, as growing Chinese aluminium inventory continues to weigh on sentiment. SHFE aluminium stocks rose to a new record high last Friday, gaining 0.5% week-on-week to 846,913 tonnes. So far this year, SHFE inventory has already increased 12.3% or 92,780 tonnes, despite the government’s continuing supply-side reforms and winter production cuts to control air pollution. China to continue to cut al capacity this year Ning Jizhe, deputy director of China’s National Development and Reform Commission (NDRC), announced last Tuesday that China will continue to curtail domestic aluminium capacity this year to further advance its supply-side structural reform agenda. In response to the news, the SHFE’s May aluminium contract saw a knee-jerk price increase during the day, before a lack of details regarding the proposed cuts caused the price to...

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