The record high of 190000T stock continues the weak Shanghai Aluminium market

Shanghai Securities News reports on Sep.9 that Aug and Sep are consumer low seasons. London aluminium price this year is weaker affected by dollar appreciation, and the future price has fell to 2650 dollars from 3000 dollars at the beginning of this month.

Levy on aluminium alloy export in Aug fused falling of aluminium price in China. Aug 15, Tariff Commission of the State Council issued that export tariff of aluminium alloy, which accounts for 40% of aluminium products export, of general trade items would be lifted to 15%.

As for reasons of price fall, seasonal consumption is the predominance. Stock of Shanghai aluminium (17260,70.00,0.41%) has been stepping up since July till the present 194000T, a record high.

Compared with alumina price of 3000 yuan/ton, cost of electrolytic aluminium in China is ranging among 14500 and 15500 yuan/ton; and the present 17000 yuan spot price of aluminium ingot still likely to fall down.

Oct aluminium price may rebound according the wave motion, which is also related to consuming start up at Q4.

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