China Hongqiao: Aluminum Price May Rebound in H2

(China Aluminum Netwotk) China Hongqiao’s CEO Zhangbo said the average sales price of aluminum products in July was 1,000 Yuan higher than Q2. With the recovery of aluminum price, he expected the average unit price in H2 will higher than H1. Affected by sales average price, Hongqiao’s gross profit rate in H1 was decreased 7.5% yearly to 21.9%.

Zhangbo pointed out thanks to the rebound of interior economy, the aluminum price may go up within the next 2 years. It is said that the export ban of aluminum raw material in Indonesia leaded the growth of company cost; zhanngbo stated company has found suppliers in India and Australia to replace the resource in Indonesia.

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