China’s limited aluminum stockpiling makes upward pressure on prices

China’s state Reserves Bureau carried out the second tender bid for aluminum ingot on the morning of 15th Mar,with base price for stockpiling of 15137 yuan per ton.The manufactures who took part in this competitive tender including Chinalco, China Power investment Corporation,Wanji, Yunnan Aluminum, Qiaotou Aluminum,and SureFire,the total stockpiling is of 300,000 tons.Chinalco and China Power investment Corporation to take the grand prizes,getting a indicator of 10 tons and 9 tons respectively.

Review on this round of stockpiling,China’s state Reserves Bureau plan to stockpile 400,000 tons.On the whole,the scale of 400,000 tons is limited.