SHANGHAI, Nov. 19 (SMM) – Alumina prices in China are nowhere near bottom, despite massive capacity cuts, SMM predicts.
Continuous declines in aluminum prices will weaken support on alumina prices from production cuts, SMM aluminum analyst explained.
Alumina prices have lost almost 33.7% since the start of the year, pushing some refineries into losses. In response, three alumina refineries under Chalco recently announced 2.12 million-tpy capacity cuts. Jinjiang Group is mulling over 1.3 million-tpy cuts.
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