Profit Expands at Chinese Aluminum Smelters, SMM Expects

Published: Jul 10, 2017 18:02

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Falling alumina prices and rising aluminum prices helped increase profit at aluminum smelters in China.

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

Now Is Not Time to Abandon Aluminum, SMM Advises

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.

China Aluminum Stocks Record Biggest Weekly Growth in Six Years, SMM Reports

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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