China's steel and electrolytic aluminum prices fell in May. Dow Jones Beijing: China’s aluminum prices fell to RMB 15,580 per ton in May this year, and fell by RMB 1920 on a April basis. In the first five months of this year, the rate of investment growth in China fell, but it was still 38% higher than the same period of last year. In contrast, in 2003, Chinese investment increased by 86.6% over the previous year. Kang Yi, chairman of China Nonferrous Metals Industry Association, pointed out that since August last year, China has no new aluminum projects. During the same period, a large number of aluminum projects under construction have been postponed, and some of the aluminum projects under construction have been suspended. This shows that the overheated investment in the electrolytic aluminum industry has been curbed. Xinhua News Agency reported on Friday that in May this year, the price of Chinese steel raw materials fell by 7.6% over the same period of last year. In May of this year, the price of Chinese steel bars and bar profiles fell by 702 yuan to 2,921 yuan per ton on the basis of April. The rebar price fell by 642 yuan to 3130 yuan per ton on the basis of April. The rate of increase in steel production has dropped significantly.
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