Aluminium price falls, profit in record low

Capacity suspension of electrolytic aluminium, especially in China, resulted in substantial fall of demand, causing large oversupply in the global alumina market.

Price of alumina has been falling continuously, resulted from which increasingly more alumina capacity are being spared.

By now, LME aluminium price has fell to around 1500 dollars/ton, back to the Q4 level of 2003, about 55% lower than the highest point of 2008.

Latest data of WBMS indicated that there were more than 1132000 tons of aluminium oversupply in the global aluminium market from January to October, 2008, far exceeding the number of 44000 tons last year.

According to the price difference between aluminium price and alumina, profit of aluminium is close to the record low in resent years

China State Reserve Bureau (SRB) is probably to purchase 300000 tons of electrolytic aluminium, will improve the market condition to some degree.

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