SHANGHAI, Jun. 25 (SMM) – The 15% freight rate cut for shipping aluminum ingot out of Xinjiang, effective June 12, will reduce cash costs for local smelters, Shanghai Metals Market understands.
The preferential rate will save 75 yuan per tonne on containerized shipments and 96.3 yuan per tonne on bulk rail shipments, SMM’s research team concludes.
Aluminum smelters in Xinjiang enjoy relatively low production costs thanks to cheap and rich coal resources there.
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