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

iconJul 18, 2016 09:46
Source:SMM
The China Nonferrous Metals Industry Association (CNIA) summoned domestic major alumina producers for a meeting in Beijing last Thursday.

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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