Aluminum price to remain sluggish due to oversupply

BEIJING, Dec 24, 2007 (Xinhua via COMTEX) -- Aluminum price on Chinese market will sluggish and fluctuate at low levels in 2008 due to domestic oversupply and price drop on the international market.

Under stringent financial and monetary policy, China's economic growth may slow down in 2008, thus dampening the growth of consumption of aluminum. Meanwhile, as many aluminum production capacities will go into operation in 2008, China's electrolytic aluminum market is expected to remain oversupplied in the year.

China's aluminum output and consumption both grew strongly in 2007. But as China strengthen its control over export, the country's import and export of electrolytic aluminum have decreased obviously in the year, finally leading to the situation of oversupply on China's aluminum market. '
   It is expected that China's aluminum inventory will keep increasing, and the price will fluctuate in low levels.

Copyright 2007 XINHUA NEWS AGENCY.

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