SHANGHAI, Aug. 13 (SMM) – Blasts occurred at a warehouse in Tianjin – one of China’s major aluminum distribution centers – last night. Will the accident affect aluminum prices?
Tianjin’s aluminum distribution center is about 30-50 kilometers away from the site of the blast, so there will be little impact of the blasts on local aluminum prices, Guoxin Futures said.
The accident did disrupt local goods shipment, though. Cargo shipments around the Port of Tianjin have been suspended. It is now unclear as to when port operations will return to normal.
Aluminum traded at 12,080-12,130 yuan per tonne on August 13, up 40 yuan per tonne from a day earlier, SMM data showed.
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