SHANGHAI, Apr. 19 (SMM) – Chinese aluminum smelters have posted better profit thanks to continuous aluminum price rise, SMM learned.
Profit at those covered in SMM’s survey sample to 900-1,000 yuan per tonne in the week ending April 15. Raw material costs changed little.
Smelters in southwest China told SMM that local governments might not offer additional power tariff subsidies now that rising aluminum prices have improved smelters’ profitability. As such, local smelters have no intention of increasing production for now.
As of April 18, spot aluminum in Shanghai market traded at 11,940-11,950 yuan per tonne.
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