Profit Expands at Chinese Aluminum Smelters, SMM Says

SHANGHAI, May 23 (SMM) – Rising aluminum prices helped expand profit at aluminum smelters in China, SMM learned.

Smelters surveyed by SMM posted profit of 1,100-1,200 yuan/tonne in the week ending May 21. 

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Average spot aluminum price gained 164 yuan/tonne on a weekly basis to 13,856 yuan/tonne last week. 

Alumina prices, though up, were still at low levels. Prebaked anode prices strengthened. Coal prices rose, but this has not passed through to power costs at smelters. Overall, aluminum costs remained low, SMM noted. 

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