May 2019 | Aluminium Weekly Market Tracker
LME aluminium prices down last week: Market Summary and Analysis
In China, SHFE aluminium prices were up more than 1% this Monday after Henan Shenhuo Group said its aluminium plant in Yongcheng city of Henan province caught fire on Sunday.
LME aluminium prices down last week The LME aluminium complex has been on a downward trend since it hit its March 2019 high of $1,951 per tonne and the weekly average LME aluminium cash price dropped further to just $1,760 per tonne last week, down 2.2% from previous week's $1,799 per tonne. In fact, trading has rebounded in favor of bears throughout the second quarter so far due to various negative catalysts which have affected both aluminium’s micro and macro dynamics. SHFE aluminium prices up following the fire at Shenhuo's plant However, in China, SHFE aluminium prices were up more than 1% this Monday after Henan Shenhuo Group said its aluminium plant in Yongcheng city of Henan province caught fire on Sunday. The plant has an operating capacity of 220,000 tonnes per year, which has been halted following the fire. Trade war dampens China's aluminium demand The most important development...
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