Chinese Alumina Enterprises to Jointly Cut Production

SHANGHAI May.25 (CBI China):Several large alumina mills, accounting for 40% of China’s total production, met again in Henan Province and agreed on a joint production cut in order to maintain prices at RMB 3,900/mt. Some traders had previously lowered prices due to surplus supply.

    CBI believes the joint production cut efforts may not work as Chalco, producing 50% of China’s total production, was not involved in the production-cut decision or campaign. Alumina market prices should decrease eventually as production costs are now below RMB 2,000/mt.