Because of the weak market demand and environmental limitation, China aluminum industry decided to cut the production of electrolytic aluminum.
Aluminum Corporation of China Limited (Chalco) announce on November 30th that part of electrolytic aluminum production lines in Shanxi and Shandong will be adjusted on their production capacity, and a total of 470,000 tons of electrolytic aluminum will be involved.
It was reported that Chalco was planning to adjust its electrolytic aluminum production because the aluminum market kept slow and the cost of raw material of alumina continued rising. Meanwhile, the price was on the opposite way to decline.
It was expected to increase by about 3 million tons of new capacity in electrolytic aluminum metal market, and the actual volume might be less than 1.5 million tons. The inventories will be reduced and it will cause the aluminum price keep falling.
Chalco decides to cut overcapacity on weak aluminum market
6 Dec 2018 15:39 reported by Alex Lo
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