Profit Expands Sharply at Chinese Aluminum Smelters, SMM Says

Published: Jul 17, 2017 12:53

Save

Rising aluminum prices and falling alumina prices allowed profit to expand significantly at aluminum smelters in China.

SHANGHAI, Jul. 17 (SMM) – Rising aluminum prices and falling alumina prices allowed profit to expand significantly at aluminum smelters in China.

Chalco Raises Aluminum Prices Further After Dramatic Hike

The SMM average spot aluminum price advanced 86 yuan/tonne on a weekly basis to 13,988 yuan/tonne last week, while the weighted average alumina price in four major markets dropped 61 yuan/tonne to 2,552 yuan/tonne as of July 14. Profit surged to above 1,100 yuan/tonne at smelters surveyed by SMM.

Tug-of-War between Australian Alumina Suppliers and Chinese Buyers, SMM Reports

In the short term, SMM expects aluminum costs to fall further since there is still room to drop for alumina prices.

For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn.

aluminum prices aluminum cost

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

11 mins ago

March Secondary Aluminum Industry PMI Rebounded Sharply Into Expansion Territory, Facing Downward Pressure in April [SMM Cast Aluminum Alloy Morning Comment]

[SMM Cast Aluminum Alloy Morning Comment: In March, the Secondary Aluminum Industry PMI Rebounded Sharply Into Expansion Territory, and Downward Pressure Remained in April] Overnight, the aluminum alloy 2605 contract price first fell and then rose, showing an overall fluctuating upward trend. After the opening, the price quickly dipped to an intraday low of 23,320 yuan/mt, then gradually stabilized and rebounded, fluctuating upward to a high of 23,610 yuan/mt. It pulled back slightly late in the session and finally closed at 23,585 yuan/mt, down 45 yuan/mt from the previous trading day, a decline of 0.19%.

11 mins ago

12 hours ago

[SMM Flash News] Combined Production Cuts at Three Middle Eastern Aluminum Smelters Reached About 2.43 Million mt

On March 29, the UAE’s EGA aluminum plant was hit by Iranian missiles and drones, causing severe damage to its facilities. A damage assessment has been launched, and widespread production cuts were expected, involving total capacity of about 1.55 million mt. Combined with the production cut process initiated earlier this month by Alba and Qatalum, the total scale of production cuts at the three aluminum plants was about 2.43 million mt.

12 hours ago

13 hours ago

Aluminum Processing PMI Rebounded Sharply to 66 in March, Expected to Pull Back in April[SMM Analysis]

[SMM Analysis]Aluminum Processing PMI Rebounded Sharply to 66 in March, Expected to Pull Back in April

13 hours ago