Aluminum falls as Chinese production rises

Economies.com
2019-07-15 14:20PM UTC

China's daily production of aluminum rose to its highest level ever in June, causing pressure on the industrial metal prices during trading today.

 

China's national statistics bureau reported that the country's production was 2.97 million tons last month, compared to 2.98 million tons in May with a rise by 1.3 percent year-on-year.

 

On a daily basis, China's aluminum production rose to 99,000 tons from 96,000 tons in May and surpassed its record levels of 98.4 thousand tons in December.

 

This follows the jump in aluminum prices on the Shanghai Stock Exchange to 14380 yuan (about $2091.1) per tonne in May.

 

The dollar index (against most major currencies) rose by 0.1% to 96.8 points at 16:08 GMT, reaching a high of 96.9 points and a low of 96.7 points.

 

On the London Stock Exchange, aluminum prices fell 0.3% to $1822 per tonne, with the highest at $1829 and the lowest at $1808.

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