Chemanalyst09 Oct, 2023Business
In August, the Aluminum Sheet market in South Korea witnessed a stable pricing trend, influenced by various factors. The stagnation in prices was attributed to reduced manufacturer offers and diminished purchasing activity. Weak demand and reluctance to buy from traders and end-users contributed to the overall price stability. Domestic market volumes significantly decreased, confirming the ongoing price stagnation. Global economic uncertainty led to a decline in feedstock Aluminum prices, while high supplies from India and China further contributed to the stability of Aluminum Sheet prices. Buyers hesitated to place orders, anticipating further price declines. The US interest rate hike impacted export demand from downstream industries, leading to a declining price trend. Subsequently, Aluminum foil prices rose due to increased production, but local demand remained weak. Overseas markets experienced rising inventory levels, and sales from companies like Novelis and Hindalco declined in
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