China’s strong demand lifts up aluminum prices
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Update time : 2020-05-29 19:48:15
Due to the increased demand for aluminum in China, aluminum prices stayed at near two-month highs yesterday (May 28th); however, the increase in aluminum prices might be affected by excess in global supplies.
Nevertheless, the good outlook for China’s aluminum demand has lifted up the aluminum prices of the London Metal Exchange (LME) and the Shanghai Futures Exchange (SHFE) since early April.
According to statistics, aluminum stocks from SHFE have declined by nearly 40% to around 322,000 tons since mid-March, but those from LME have risen by above 50% to nearly 1.5 million tons during the same period.
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