【Chinatungsten Online News Net- Tungsten News】
1, the basic metals market on August 30 one week, LME copper, aluminum, lead, zinc Change rate were -3.60% -4.01% -2.65% -4.10%.
2, gold and the dollar on August 30 one week, gold Change rate of -0.19%. USD Change rate of 0.84%.
3, affect the industry trend data, event August 27 news, the International Aluminium Institute (IAI) released data show that the global aluminum inventories increased in July to 2.224 million tons of 2,000 tons. IAI said that in June the global aluminum inventories of 2.222 million tons. IAI data show that in July inventory of 2.358 million tons a year earlier, a decrease of 13.4 million tons. Data show that the global July unwrought aluminum stocks fell to 1.173 million tons, a revised 1.179 million tons in June, in July last year to 1.363 million tons.
August 30, Japan's fourth-largest trading company Sumitomo (SumitomoCorp.) expects the global aluminum oversupply situation will continue until 2014, for the eighth consecutive year oversupply top consumer China due to slowdown in demand. Light-metals trade manager ShingiYamagiwa said that next year the amount of aluminum supply will reach 994,000 t surplus this year, the excess amount is expected to be 883,000 tons. LME aluminum prices fell 12 percent during the year, forcing including Rusal, Rio Tinto, Alcoa, including major manufacturers cut production. China's second-quarter GDP grew 7.5%. The Barclays expects the global aluminum surplus next year will increase from 870,000 tons to 117 tons.
4, Weekly Base metals: Base metals fell for two consecutive weeks, evidence of its rising power shortage we expected.
Gold: Gold fell slightly this week, long-term growth is still weak.
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