Profit Expands at Chinese Aluminum Smelters, SMM Expects

SHANGHAI, Jul. 10 (SMM) – Falling alumina prices and rising aluminum prices helped increase profit at aluminum smelters in China.

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The SMM average spot aluminum price gained 200 yuan/tonne on a weekly basis to 13,902 yuan/tonne last week, while alumina prices fell to 2,612 yuan/tonne. The Bohai-Rim Steam-Coal Price Index gained 18 yuan/tonne in four weeks to 580 yuan/tonne.

Smelters surveyed by SMM reported an average profit of over 700 yuan/tonne.

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In the short term, alumina prices are unlikely to fall sharply and coal prices will stay firm, so aluminum smelters will see no big decline in costs.

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