Aluminium price may hike further due to US' Alcoa strikes
Due to high cost and tight supply for the aluminium raw material, Chinese aluminium oxide domestic price rebounded from RMB 14,000/ton to RMB 14,500/ton since early of July. According to this, many aluminium mills adjusted their production flexibly. Affected by this, it was expected that the aluminium oxide export quantity would increase to 200,000 tons during July. And the Aluminium oxide price might hike further to RMB 14,800/ton due to US' Alcoa strikes.
In addition, Chinese government imposed many measures for the environmental protection and many steel mills were forced to cooperate and cut the production. The forthcoming September and October was the peak season for aluminium steel export. The aluminium ingot inventory would sell quickly in the market. Therefore, all aluminium prices would have rooms to increase.
