SHANGHAI, Apr. 17 (SMM) – Aluminum smelters in China reported a big increase in profit recently, thanks to rising aluminum prices and lower costs, SMM learned.
The average profit at domestic aluminum producers shot up to about 800 yuan/tonne in the week ending April 14, according to SMM data. The jump in profit was mainly because aluminum prices gained 286 yuan/tonne from 13,500 yuan/tonne in late March. Moreover, domestic alumina prices fell to 2,400-2,500 yuan/tonne.
Falling prices of raw materials sent down aluminum production costs to below 13,000 yuan/tonne, SMM data showed.
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