Aluminium Bounces Higher after Weak Start

The primary aluminium price kicked off the previous week at the LME though with a little help from copper managed to recover moving over the $2,500/mt mark. The light metal ended at $2,419/mt Monday (21/01), drifting lower to $2,409/mt Tuesday. Wednesday saw the primary aluminium price moving marginally higher to $2,413/mt, while Thursday stepped up to $2,455/mt. The light metal vaulted to $2,519/mt Friday.

Production of primary aluminium outside of China grew by 3.9% to 24.803 million tons in 2007, according to the International Aluminium Institute (IAI). Continued strong production growth in Asia last year, accelerating production growth in Eastern Europe and a turn of trend in both North America and Europe were the major factors at work in 2007.

According to the China Nonferrous Metals Industry Association (CNMIA) China's production of primary aluminium surged by 34.9% to 12.607 million tons in 2007. Analysts talk about a slowdown in production growth this year, though they mean something in the 20-25% range, which by comparison with non-Chinese growth rates is still very high.

Copyright and Exemption Declaration :¢ÙAll articles, pictures and videos that are marked with "China Aluminum Network" on this website are copyright and belong to China Aluminium Network (www.alu.com.cn). When transshipment, any media, website or individual must list the source from "China Aluminium Network (www.alu.com.cn)". We seek legal actions against anyone that disobey this. ¢ÚArticles that marked as copy from others are for transferring more information to readers, do not represent or endorse their opinions or accuracy and reliability. When other media, website or individuals copy from our website, must keep the source. Anyone that changes the articles' sources will hold the responsibilities for copyright and law problems. We also seek legal actions against anyone that disobey this. ¢ÛIf any articles copied by our website concern the copyright and other problems, please contact us within one week.