Spot aluminum premium Europe Fell, following the decline of LME Aluminum

News from London Oct. 24: Dealer said in Wednesday that Spot aluminum premium Europe Fell, following the decline of LME Aluminum. Stock and the price of bauxite and alumna increased give pressure to aluminum price. From May, LME aluminum spot price dropped 1.5% to 2,520$ now. LME stock is 924,875 ton now, increased 32% from the early of this year. In may, EU lowered the import custom of unprocessed aluminum to 3% from 6%v, that has’t affected a lot on aluminum premium.LME aluminum price increased to2573$ last week, that is the highest price in this seven weeks. Although aluminum long-term prospect remain favorable, given the current abundant supply, there will not be sharply rose recently.