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Hello all,
Wondering if anyone else is in Asia and has noticed a huge glut of Aluminum on the market depressing prices? The index (Shanghai) seems to be pretty stable, but yards (including us!) seem to have a huge amount of stock and it is making it quite the buyers market.
Anyone else having a similar experience?
Regards,
Michael
hmmm, i thought there was a black hole somewhere or something, we ship mountains of metals overseas, but all we get back are plastics?
have you noticed the governments over there buying up vast quantities of it ?
The NZ aluminium smelter is making a loss at the moment.
We do get good prices here for Ali (NZ$1.40/Kg) as they buy the ali in & remelt it in their pots as its cheaper than from alumina.