Aluminium price down to below 14000 yuan

Friday aluminium price in China fell to below 14000 yuan, following a fail of two strikings for the high extent of 14500 yuan in the past two days. 0901 main aluminium in Shanghai Futures Exchange closed at 13905 yuan/ton, fell 550 yuan, with deal volume of 197700, position reduced 14900, cutting all rising quotation on Thursday. Changjiang spot price of aluminium was quoted 13820 yuan/ton, down 260 yuan. The downstream consumption is turning good.

China Nonferrous Metals Association raised six policies such as increase export rebates of aluminium profile, promote state commodity storage of aluminium ingot, etc., by which deficit of domestic aluminium industry should be saved.

Friday LME aluminium stock increased 1150 tons to 1524325 tons, a fast growth in recently, setting a new record high. LME aluminium price continues the trend of falling, once down below 2000 dollars. 

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