Al prices rebound, capped by the strengthening US dollar

摘要

Primary aluminum prices at home and abroad move up in March but the strengthening US dollar is now applying downward pressure on the price, trading sources show. In early March, primary aluminum price in Nanhai region of Guangdong province, the major producing area of aluminum semis in China, rebounded strongly. After the Chinese Spring Festival holiday, the aluminum semis producers in the region restarted their aluminum semis production lines or began to increase production. This boosts the demand for aluminum in the region. It is well known that most of Chinese aluminum smelters have no habit of signing long-term contract with alumina suppliers and they usually buy alumina on spot market. Most of Chinese aluminum fabricators also usually buy aluminum on spot market, not by long-term contract. So, there are always wide fluctuation both in alumina price and aluminum price in China.