Al prices make strong response to policy finalized

摘要

Primary aluminum prices at home and abroad made strong response when the new policy on Chinese primary aluminum export(5 percent export tariff will be levied on primary aluminum, effective from January 1, 2005) was finalized in late December. The SHFE's most active 0503 Al futures rose by around 5 percent in the trading days of December 24-27, indicating that a nearly two-month formation of bottom ended and all the "bearish" policy news "have published". Of course, the rally on domestic aluminum market has also been encouraged by the g performance on overseas market with the LME 3-month aluminum hitting a multi-year record of USDl,935/tonne on December 24,