Will Recent Meeting of Major Producers Offer Welcome Rain for Alumina Prices? SMM Reports

SHANGHAI, Jul. 18 (SMM) –The China Nonferrous Metals Industry Association (CNIA) summoned domestic major alumina producers, including Chalco, Jinjiang Group, Shandong Xinfa Group, etc. for a meeting in Beijing last Thursday.

Persistent declines in alumina prices might be the main reason why the meeting was held, SMM understood.

Will the gathering give a boost to battered alumina prices?

Aluminum Prices to Extend Gains as Stocks Hit Nearly 7-Year Low, SMM Says

The meeting will do little to arrest price declines, unless meeting participants reach a consensus over joint production cuts or alumina stockpiling, SMM noted.

SMM data showed weighted average price in domestic four major regions had fallen to 1,807 yuan/tonne as of last Thursday. 

Chalco Cuts Aluminum Prices in Major Markets for Five Consecutive Days on July 19

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