Aluminum Ingot Trend In The Past Two Months
Started with 12610 RMB dated 2016-09-01, Changjiang aluminum ingot price has raised greatly until today. It jumped the first big raise on 2016-09-22, from 12520rmb to 12920rmb, by 2016-09-30, it has came to 13480 rmb.
In October, the price is steady with little rise after at the beginning but it took our breath on 2016-10-25, by jumping to 13930 rmb from 13440, and another big jump on 2016-10-26, to 14450 rmb, price of 14950 rmb closed the crazy October.
This month, the price is still going up at a steady pace and until today, it is 15380 rmb.
The reason for ingot price going up is part from the market situation of higher transportation cost, mineral material cost and electricity power cost, but mostly caused by the hot money investment in nonferrous metal industry and it is estimated that the price will keep going up this year.