SHANGHAI, Aug. 3 (SMM) –The average cost at Chinese aluminum smelters dropped 3.57% month-on-month in July, driven by lower power costs, SMM survey showed.
Power costs fell 7.8% compared with June. Some aluminum smelters have received preferential power tariffs due to China’s power reform. Smelters with captive power plants benefited from falling coal prices. These positive factors allowed the average power tariff at those surveyed to fall to 0.3 yuan/Kwh, down 0.045 yuan/Kwh from early June.
Alumina cost slid 0.82% on a monthly basis.
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