SHANGHAI, Aug. 4 (SMM) – Aluminum smelters in China posted big profit in July, despite rising costs, SMM learned.
Smelters surveyed by SMM reported average profit to 1,250 yuan per tonne in the week ending July 29.
Average cost at smelters in SMM’s survey sample rose 2.1% from June to 10,752 yuan per tonne in July, driven mainly by an 8.33% increase in power costs. Rising coal prices pushed up captive power costs at smelters. Alumina cost slid 1.63%, while prebaked anode cost was up 1.24%, and cost for other supplementary materials dropped 2.84%.
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