SHANGHAI, Nov. 9 (SMM) – Large aluminum smelters in China reported big profit during the first eight months of this year thanks to rising aluminum prices.
Their profit totaled 9.1 billion yuan, a big reversal from losses across the industry last year.
Chen Quanxun, President of China Nonferrous Metals Industry Association, attributed the profit to rally of aluminum prices. As of the end of September, SHFE three-month aluminum traded around 12,000 yuan/tonne, up 20% from early this year.
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