SHANGHAI, Jun. 19 (SMM) – Profit at aluminum smelters in China has been shrinking steadily of late, mainly as a result of falling aluminum prices.
SMM survey found profit had fallen to 200-400 yuan/tonne last week. The SMM average spot aluminum price slid 114 yuan/tonne on a weekly basis to 13,504 yuan/tonne.
Notably, alumina prices will face downward pressure from recovering supply. Coal prices will remain low in the short term.
There is still room to fall for aluminum costs, SMM expects.
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