Chinalco£ºAluminum price to surge

Global economic recovery, dollar weakness, stock rise, Crude oil prices rebound to above 60 U.S. dollars, all those news boost market confidence efficiently, which stimulus the price surge of the basic metals. the price of the nonferrous metal is picking up since February, till July 20th, the LME copper price has risen 70.3%, Lead has added 68.8%, Zinc has increased 52.6%, while the aluminum price only risen 33.6%, which is far behind the other base metals. Therefore, the aluminum price still has a demand for additional increase. It is predicted that the aluminum price will continue to rise unsteadily, and the price will reach 15000/ton.

The demand of the aluminum industry has recovered. The data of GDP and PMI shows that the China's economic recovery has carried on much quicker than the expectation. Stimulating by the substantial increase in imports of primary aluminum, the primary aluminum consumption keeps increasing since April.

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