China is not only the world's largest consumer of industrial metals, but also the largest producer of many industrial metals, including aluminum, which accounts for 40% of global production.
However, due to weak demand, high inventory and overcapacity in the industry, China's aluminum smelters have recently been in trouble, and their production costs are high globally.
Since the beginning of the year, the global benchmark aluminum price released by the London Metal Exchange (LME) has fallen by 4.1% to below $2,000 per ton – according to analysts' forecasts, higher-cost smelters have to break even, aluminum prices It can reach $2,300 to $2,500 per ton.
Two traders who were informed of the tender said that China's State Reserves Bureau would buy 300,000 tons of aluminum and deliver it from April 1 to May 31. The bureau is one of the most powerful promoters of the global metal market.
The purchase was part of a purchase plan initiated by the National Material Reserve Board last November, when aluminum prices also fell below $2,000 per ton.
Analysts believe that this move is unlikely to push aluminum prices up. However, it is expected to help troubled Chinese aluminum smelters from bankruptcy, but it will also extend the oversupply situation that has made the global aluminum industry difficult.
Low aluminum prices have dragged down the profitability of some of the world's largest miners, causing Rio Tinto, BHP Billiton and Glencore to write down significantly in recent annual reports.
Russia's largest aluminum producer, Rusal, reported last week that it had a loss of $55 million in 2012.
The news that China’s State Material Reserve Bureau is preparing to buy aluminum has already led to higher aluminum prices in China. The three-month aluminum price benchmark for the Shanghai Futures Exchange rose 1.9% last week, when tender rumors began to spread among Chinese traders. LME aluminum prices rose slightly this week, although it fell 0.6% at the close yesterday.
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1.High quality aluminum alloy profiles, thickness 1.2-2.0mm
2.Excellent quality thermal break aluminum profiles, thickness 1.4-3.0mm
3.PVC/UPVC material (need to be ordered)
Color
White/ Sliver / Grey / Champagne / Black / Wood grain / special color can be ordered
Glass Type
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2.Double toughened glazing:5+12A+5mm/6+12A+6mm...
3.Laminated glazing:5+0.38PVB+5mm/6+0.76PVB+6mm...
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Mesh
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2.Stainless steel security mesh
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4.Mosquito net(Nylon,Stainless steel,Diamond)
Hardware
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3.Chinese top brand
Surface treatment
1.Anodizing
2.Powder coating
3.Electrophoresis
4.Fluorocarbon paint
Glass Sliding Door,Tempered Glass Sliding Door,Double Glass Sliding Door,Automatic Glass Sliding Door
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